REGENXBIO (NASDAQ:RGNX) Trading Up 9.2% – Time to Buy?

REGENXBIO Inc. (NASDAQ:RGNX)’s stock price rose 9.2% during mid-day trading on Monday . The stock traded as high as $10.52 and last traded at $10.46. 460,938 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 634,509 shares. The stock had previously closed at $9.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Chardan Capital reissued a “buy” rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Wednesday, November 20th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Raymond James reissued an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a research note on Thursday, October 10th. HC Wainwright lowered their target price on shares of REGENXBIO from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 target price on shares of REGENXBIO in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.27.

REGENXBIO Trading Up 5.0 %

The stock has a market capitalization of $498.37 million, a price-to-earnings ratio of -2.08 and a beta of 1.24. The stock’s 50 day moving average is $9.81 and its 200 day moving average is $11.57.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the completion of the sale, the director now owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. The trade was a 46.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Integral Health Asset Management LLC grew its stake in shares of REGENXBIO by 25.0% in the second quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company’s stock worth $11,115,000 after purchasing an additional 190,000 shares in the last quarter. Quest Partners LLC grew its position in REGENXBIO by 11,731.0% during the 2nd quarter. Quest Partners LLC now owns 42,000 shares of the biotechnology company’s stock worth $491,000 after purchasing an additional 41,645 shares in the last quarter. Squarepoint Ops LLC lifted its position in REGENXBIO by 630.9% in the 2nd quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company’s stock worth $1,711,000 after buying an additional 126,249 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of REGENXBIO during the 2nd quarter valued at about $494,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of REGENXBIO during the 3rd quarter worth $643,000. 88.08% of the stock is currently owned by institutional investors.

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.