REGENXBIO (NASDAQ:RGNX) Downgraded by StockNews.com to Sell

StockNews.com cut shares of REGENXBIO (NASDAQ:RGNX) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other equities analysts have also weighed in on RGNX. Raymond James assumed coverage on REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of REGENXBIO in a research report on Tuesday, January 21st. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research report on Wednesday, January 15th. Chardan Capital reaffirmed a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded shares of REGENXBIO from a “buy” rating to a “neutral” rating and cut their price objective for the company from $38.00 to $14.00 in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and an average target price of $33.45.

REGENXBIO Stock Performance

Shares of RGNX opened at $7.30 on Friday. The firm has a market cap of $361.64 million, a P/E ratio of -1.45 and a beta of 1.29. REGENXBIO has a 52 week low of $6.56 and a 52 week high of $28.80. The firm’s 50-day simple moving average is $7.88 and its 200 day simple moving average is $9.81.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of 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 purchasing an additional 1,656 shares during the last quarter. nVerses Capital LLC boosted its stake in REGENXBIO by 183.3% in the third quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 2,200 shares in the last quarter. GAMMA Investing LLC grew its position in REGENXBIO by 273.1% in the fourth 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 during the last quarter. KLP Kapitalforvaltning AS acquired a new position in REGENXBIO during the fourth quarter worth about $54,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of REGENXBIO by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 3,720 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.