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

REGENXBIO (NASDAQ:RGNX) had its target price decreased by analysts at Morgan Stanley from $25.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 102.36% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus raised their price target 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. Royal Bank Of Canada upped 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. Wall Street Zen lowered REGENXBIO from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Chardan Capital lowered their price target on shares of REGENXBIO from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of REGENXBIO in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, REGENXBIO has an average rating of “Moderate Buy” and an average price target of $27.89.

REGENXBIO Price Performance

NASDAQ:RGNX traded down $1.42 during mid-day trading on Tuesday, reaching $8.90. The stock had a trading volume of 691,676 shares, compared to its average volume of 1,005,892. The stock’s 50 day simple moving average is $13.43 and its two-hundred day simple moving average is $11.43. REGENXBIO has a 1-year low of $5.03 and a 1-year high of $16.19. The company has a market capitalization of $450.26 million, a price-to-earnings ratio of -2.57 and a beta of 1.05.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds and other institutional investors have recently made changes to their positions in RGNX. AQR Capital Management LLC raised its stake in shares of REGENXBIO by 2,247.7% in the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock valued at $4,437,000 after purchasing an additional 594,161 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of REGENXBIO by 64.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,160,380 shares of the biotechnology company’s stock worth $16,709,000 after acquiring an additional 454,977 shares during the last quarter. Invenomic Capital Management LP bought a new position in REGENXBIO during the 3rd quarter worth $4,120,000. Integral Health Asset Management LLC increased its position in REGENXBIO by 57.1% during the third quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock worth $10,615,000 after acquiring an additional 400,000 shares during the period. Finally, 22NW LP boosted its holdings in REGENXBIO by 38.1% in the 2nd quarter. 22NW LP now owns 923,679 shares of the biotechnology company’s stock valued at $7,583,000 after purchasing an additional 255,000 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.