Morgan Stanley Lowers REGENXBIO (NASDAQ:RGNX) Price Target to $18.00

REGENXBIO (NASDAQ:RGNX) had its price objective dropped by Morgan Stanley from $25.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price target indicates a potential upside of 102.36% from the company’s previous close.

RGNX has been the topic of a number of other research reports. Wall Street Zen lowered shares of REGENXBIO from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Chardan Capital cut their target price on REGENXBIO from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. 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 research report on Friday, December 19th. Barclays started coverage on REGENXBIO in a research report on Tuesday, January 27th. They set an “overweight” rating and a $37.00 target price for the company. Finally, Leerink Partners upped their price objective on REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.89.

REGENXBIO Trading Down 13.7%

REGENXBIO stock traded down $1.42 during mid-day trading on Tuesday, reaching $8.90. The company had a trading volume of 691,676 shares, compared to its average volume of 1,005,892. REGENXBIO has a fifty-two week low of $5.03 and a fifty-two week high of $16.19. The company has a market cap of $450.26 million, a P/E ratio of -2.57 and a beta of 1.05. The business has a fifty day simple moving average of $13.43 and a 200 day simple moving average of $11.43.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new position in REGENXBIO in the 3rd quarter worth approximately $25,000. Aquatic Capital Management LLC acquired a new stake in shares of REGENXBIO during the third quarter worth $37,000. Jones Financial Companies Lllp lifted its stake in 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 buying an additional 1,270 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in REGENXBIO by 754.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 5,000 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of REGENXBIO during the second quarter valued at $85,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

About REGENXBIO

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.