REGENXBIO (NASDAQ:RGNX) Stock Price Down 3.7% on Analyst Downgrade

REGENXBIO Inc. (NASDAQ:RGNXGet Rating) shares were down 3.7% on Monday after SVB Leerink lowered their price target on the stock from $15.00 to $14.00. SVB Leerink currently has a market perform rating on the stock. REGENXBIO traded as low as $22.00 and last traded at $22.15. Approximately 24,295 shares traded hands during trading, a decline of 91% from the average daily volume of 280,771 shares. The stock had previously closed at $23.00.

Several other analysts have also issued reports on the stock. Wedbush cut their target price on shares of REGENXBIO from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. Royal Bank of Canada cut their target price on shares of REGENXBIO from $47.00 to $29.00 in a research report on Tuesday, October 4th. Morgan Stanley cut their target price on shares of REGENXBIO from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, November 21st. Chardan Capital cut their target price on shares of REGENXBIO from $70.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Finally, StockNews.com started coverage on shares of REGENXBIO in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, REGENXBIO has a consensus rating of “Moderate Buy” and an average target price of $41.43.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds have recently modified their holdings of the company. Virtus ETF Advisers LLC boosted its position in shares of REGENXBIO by 7.8% in the second quarter. Virtus ETF Advisers LLC now owns 5,209 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 379 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of REGENXBIO by 5.2% in the third quarter. Lazard Asset Management LLC now owns 10,251 shares of the biotechnology company’s stock worth $270,000 after buying an additional 505 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of REGENXBIO by 2.0% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,655 shares of the biotechnology company’s stock worth $605,000 after buying an additional 519 shares in the last quarter. Texas Permanent School Fund lifted its holdings in shares of REGENXBIO by 2.8% in the second quarter. Texas Permanent School Fund now owns 27,435 shares of the biotechnology company’s stock worth $678,000 after buying an additional 752 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of REGENXBIO by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 8,483 shares of the biotechnology company’s stock worth $282,000 after buying an additional 804 shares in the last quarter. 80.21% of the stock is currently owned by institutional investors.

REGENXBIO Stock Up 3.8 %

The firm’s fifty day moving average price is $22.79 and its 200 day moving average price is $25.74. The stock has a market cap of $1.02 billion, a PE ratio of 15.19 and a beta of 0.99.

REGENXBIO (NASDAQ:RGNXGet Rating) last released its earnings results on Thursday, November 3rd. The biotechnology company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.55) by ($0.20). REGENXBIO had a return on equity of 12.22% and a net margin of 15.34%. The company had revenue of $26.51 million during the quarter, compared to analysts’ expectations of $29.77 million. As a group, analysts anticipate that REGENXBIO Inc. will post -5.7 earnings per share for the current fiscal year.

About REGENXBIO

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REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform.

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