REGENXBIO (NASDAQ:RGNX) Lowered to “Neutral” Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of REGENXBIO (NASDAQ:RGNX) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat Ratings reports. The firm currently has $14.00 target price on the biotechnology company’s stock, down from their prior target price of $38.00.

RGNX has been the subject of a number of other reports. Morgan Stanley restated an “overweight” rating and issued a $22.00 price objective on shares of REGENXBIO in a research note on Friday, November 15th. Raymond James started coverage on shares of REGENXBIO in a research report on Friday, February 7th. They set an “outperform” rating and a $27.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of REGENXBIO in a research report on Wednesday, January 15th. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Wednesday, November 20th. Finally, StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.45.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX opened at $7.33 on Tuesday. The stock has a market capitalization of $363.13 million, a P/E ratio of -1.46 and a beta of 1.29. The business has a 50-day moving average of $8.00 and a two-hundred day moving average of $9.93. REGENXBIO has a fifty-two week low of $6.56 and a fifty-two week high of $28.80.

Institutional Investors Weigh In On REGENXBIO

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of REGENXBIO by 273.1% during the 4th quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 2,510 shares in the last quarter. FMR LLC boosted its holdings in REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,656 shares in the last quarter. nVerses Capital LLC grew its stake in shares of REGENXBIO by 183.3% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 2,200 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of REGENXBIO in the 4th quarter worth approximately $54,000. Finally, EntryPoint Capital LLC bought a new position in shares of REGENXBIO during the 4th quarter worth approximately $97,000. Institutional investors own 88.08% of the company’s stock.

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.