REGENXBIO (NASDAQ:RGNX) Given “Buy” Rating at Chardan Capital

Chardan Capital restated their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $52.00 price objective on the biotechnology company’s stock.

RGNX has been the subject of a number of other research reports. Raymond James initiated coverage on REGENXBIO in a report on Friday, February 7th. They issued an “outperform” rating and a $27.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of REGENXBIO in a report on Wednesday, January 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of REGENXBIO in a research report on Tuesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a research report on Friday, November 15th. Finally, StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and an average target price of $34.13.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX opened at $6.72 on Friday. REGENXBIO has a 1 year low of $5.62 and a 1 year high of $23.14. The stock has a market capitalization of $332.94 million, a P/E ratio of -1.34 and a beta of 1.35. The stock has a 50-day simple moving average of $7.34 and a 200-day simple moving average of $9.08.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.26. The firm had revenue of $21.21 million during the quarter, compared to analysts’ expectations of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Analysts predict that REGENXBIO will post -4.84 earnings per share for the current year.

Institutional Investors Weigh In On REGENXBIO

Institutional investors and hedge funds have recently made changes to their positions in the company. Sigma Planning Corp increased its position in REGENXBIO by 17.5% in the third quarter. Sigma Planning Corp now owns 38,210 shares of the biotechnology company’s stock worth $401,000 after buying an additional 5,701 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in REGENXBIO in the third quarter worth $643,000. Intech Investment Management LLC acquired a new stake in REGENXBIO in the third quarter worth $161,000. Charles Schwab Investment Management Inc. increased its position in REGENXBIO by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 417,739 shares of the biotechnology company’s stock worth $4,382,000 after buying an additional 37,055 shares during the period. Finally, FMR LLC increased its position in REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,656 shares during the period. 88.08% of the stock is owned by institutional investors and hedge funds.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.