REGENXBIO’s (RGNX) Buy Rating Reaffirmed at Chardan Capital

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

Several other research firms also recently issued reports on RGNX. The Goldman Sachs Group downgraded REGENXBIO from a “buy” rating to a “neutral” rating and cut their price target for the stock from $38.00 to $14.00 in a research note on Tuesday, February 11th. StockNews.com raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Raymond James initiated coverage on shares of REGENXBIO in a research note on Friday, February 7th. They issued an “outperform” rating and a $27.00 target price for the company. Morgan Stanley reissued an “overweight” rating and issued a $22.00 target price on shares of REGENXBIO in a research note on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.13.

REGENXBIO Stock Up 2.6 %

NASDAQ:RGNX opened at $6.72 on Friday. The company has a market capitalization of $332.94 million, a PE ratio of -1.34 and a beta of 1.35. REGENXBIO has a 52-week low of $5.62 and a 52-week high of $23.14. The stock has a fifty 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 (EPS) for the quarter, topping the consensus estimate of ($1.27) by $0.26. The business had revenue of $21.21 million during the quarter, compared to the consensus estimate of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. As a group, equities analysts anticipate that REGENXBIO will post -4.84 earnings per share for the current year.

Institutional Trading of REGENXBIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in REGENXBIO by 166.8% in the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 1,656 shares during the period. GAMMA Investing LLC grew its holdings in REGENXBIO by 273.1% in the 4th quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 2,510 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in REGENXBIO in the 4th quarter valued at about $54,000. Dynamic Technology Lab Private Ltd purchased a new stake in REGENXBIO in the 4th quarter valued at about $79,000. Finally, Laurion Capital Management LP purchased a new stake in REGENXBIO in the 4th quarter valued at about $79,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

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.