Chardan Capital Lowers REGENXBIO (NASDAQ:RGNX) Price Target to $50.00

REGENXBIO (NASDAQ:RGNX) had its price target cut by equities research analysts at Chardan Capital from $52.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Chardan Capital’s price target suggests a potential upside of 384.97% from the company’s current price.

Several other analysts also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of REGENXBIO in a research note on Thursday, January 29th. Wall Street Zen cut REGENXBIO from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research report on Thursday, January 22nd. Stifel Nicolaus upped their price objective on shares of REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Finally, Leerink Partners lifted their target price on shares of REGENXBIO from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and a consensus price target of $30.13.

REGENXBIO Stock Performance

Shares of RGNX opened at $10.31 on Tuesday. The firm has a market cap of $521.89 million, a PE ratio of -2.97 and a beta of 1.05. The firm’s 50 day moving average price is $13.43 and its 200 day moving average price is $11.43. REGENXBIO has a twelve month low of $5.03 and a twelve month high of $16.19.

Institutional Trading of REGENXBIO

Several hedge funds and other institutional investors have recently bought and sold shares of RGNX. State of Alaska Department of Revenue bought a new stake in shares of REGENXBIO in the third quarter valued at about $25,000. Aquatic Capital Management LLC bought a new stake in shares of REGENXBIO in the 3rd quarter worth approximately $37,000. Jones Financial Companies Lllp increased its position in shares of REGENXBIO by 44.4% during the third quarter. Jones Financial Companies Lllp now owns 4,133 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 1,270 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of REGENXBIO by 754.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in REGENXBIO in the second quarter worth $85,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO’s pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.