REGENXBIO (NASDAQ:RGNX) Sets New 52-Week High – Here’s What Happened

Shares of REGENXBIO Inc. (NASDAQ:RGNX) hit a new 52-week high on Wednesday . The stock traded as high as $15.43 and last traded at $15.03, with a volume of 104159 shares. The stock had previously closed at $14.18.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank Of Canada upped their price target on shares of REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Wall Street Zen raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Monday, November 24th. HC Wainwright restated a “buy” rating and set a $34.00 price objective on shares of REGENXBIO in a report on Tuesday, October 7th. Stifel Nicolaus lifted their target price on REGENXBIO from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of REGENXBIO in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.00.

REGENXBIO Stock Performance

The company’s fifty day moving average is $12.98 and its two-hundred day moving average is $10.73. The firm has a market cap of $759.35 million, a price-to-earnings ratio of -4.32 and a beta of 1.07.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($1.20) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.18. The company had revenue of $29.73 million for the quarter, compared to analyst estimates of $24.41 million. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%. As a group, analysts forecast that REGENXBIO Inc. will post -4.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in REGENXBIO by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 4,037,248 shares of the biotechnology company’s stock valued at $38,959,000 after acquiring an additional 185,223 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of REGENXBIO by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,128,521 shares of the biotechnology company’s stock valued at $9,267,000 after purchasing an additional 21,575 shares during the period. Integral Health Asset Management LLC grew its holdings in REGENXBIO by 57.1% during the 3rd quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $10,615,000 after purchasing an additional 400,000 shares in the last quarter. AQR Capital Management LLC grew its holdings in REGENXBIO by 49.9% during the 2nd quarter. AQR Capital Management LLC now owns 930,196 shares of the biotechnology company’s stock valued at $7,637,000 after purchasing an additional 309,601 shares in the last quarter. Finally, 22NW LP increased its stake in REGENXBIO by 38.1% during the 2nd quarter. 22NW LP now owns 923,679 shares of the biotechnology company’s stock worth $7,583,000 after buying an additional 255,000 shares during the period. 88.08% of the stock is 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.