REGENXBIO (NASDAQ:RGNX) Given New $50.00 Price Target at Morgan Stanley

REGENXBIO (NASDAQ:RGNXGet Rating) had its price target decreased by Morgan Stanley from $52.00 to $50.00 in a research report released on Monday morning, MarketBeat.com reports. Morgan Stanley currently has an overweight rating on the biotechnology company’s stock.

A number of other analysts have also recently issued reports on the company. Chardan Capital cut their price objective on REGENXBIO from $70.00 to $61.00 and set a buy rating for the company in a research report on Friday, November 4th. StockNews.com started coverage on REGENXBIO in a report on Wednesday, October 12th. They set a hold rating for the company. Wedbush dropped their price target on REGENXBIO from $32.00 to $28.00 and set a neutral rating for the company in a report on Tuesday, October 4th. Royal Bank of Canada dropped their price target on REGENXBIO from $47.00 to $29.00 in a report on Tuesday, October 4th. Finally, TheStreet cut REGENXBIO from a c rating to a d+ rating in a report on Friday, November 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $41.43.

REGENXBIO Stock Up 0.6 %

RGNX opened at $22.56 on Monday. REGENXBIO has a 12-month low of $18.69 and a 12-month high of $36.35. The stock has a market cap of $976.62 million, a price-to-earnings ratio of 14.55 and a beta of 1.00. The business has a 50 day moving average of $22.89 and a 200-day moving average of $25.51.

REGENXBIO (NASDAQ:RGNXGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($0.20). REGENXBIO had a net margin of 15.34% and a return on equity of 12.22%. The business had revenue of $26.51 million during the quarter, compared to analyst estimates of $29.77 million. As a group, analysts expect that REGENXBIO will post -5.72 earnings per share for the current year.

Insiders Place Their Bets

In other REGENXBIO news, CFO Vittal Vasista sold 2,400 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $30.24, for a total transaction of $72,576.00. Following the transaction, the chief financial officer now owns 135,160 shares in the company, valued at approximately $4,087,238.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors increased its stake in shares of REGENXBIO by 742.1% in the 1st quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 846 shares during the last quarter. Royal Bank of Canada increased its stake in shares of REGENXBIO by 189.8% in the 3rd quarter. Royal Bank of Canada now owns 1,397 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 915 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of REGENXBIO in the 3rd quarter valued at $80,000. KBC Group NV increased its stake in shares of REGENXBIO by 168.0% in the 1st quarter. KBC Group NV now owns 3,621 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 2,270 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its stake in shares of REGENXBIO by 7.8% in the 2nd quarter. Virtus ETF Advisers LLC now owns 5,209 shares of the biotechnology company’s stock valued at $129,000 after purchasing an additional 379 shares during the last quarter. Institutional investors own 83.25% of the company’s stock.

REGENXBIO Company Profile

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REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform.

Further Reading

Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

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