REGENXBIO (NASDAQ:RGNX) Given New $18.00 Price Target at Morgan Stanley

REGENXBIO (NASDAQ:RGNX) had its price target trimmed by Morgan Stanley from $25.00 to $18.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

A number of other equities analysts also recently commented on RGNX. Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research report on Thursday, January 22nd. Chardan Capital cut their price objective on shares of REGENXBIO from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Wall Street Zen downgraded shares of REGENXBIO from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Royal Bank Of Canada boosted their target price on REGENXBIO from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Leerink Partners increased their price target on shares of REGENXBIO from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, REGENXBIO has an average rating of “Moderate Buy” and a consensus target price of $27.80.

REGENXBIO Trading Down 14.2%

Shares of RGNX stock opened at $8.85 on Tuesday. REGENXBIO has a twelve month low of $5.03 and a twelve month high of $16.19. The stock has a market cap of $447.99 million, a price-to-earnings ratio of -2.55 and a beta of 1.05. The company’s 50-day moving average price is $13.36 and its 200-day moving average price is $11.43.

Hedge Funds Weigh In On REGENXBIO

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in shares of REGENXBIO during the third quarter worth about $25,000. Aquatic Capital Management LLC bought a new position in REGENXBIO during the 3rd quarter valued at $37,000. Jones Financial Companies Lllp lifted 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 worth $40,000 after purchasing an additional 1,270 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in REGENXBIO by 754.1% during the second 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 last quarter. Finally, Captrust Financial Advisors bought a new position in shares of REGENXBIO in the 2nd quarter worth about $85,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.