Regenxbio (RGNX) Given New $85.00 Price Target at Morgan Stanley

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Regenxbio (NASDAQ:RGNX) had its price target decreased by Morgan Stanley from $93.00 to $85.00 in a report released on Wednesday, December 19th. Morgan Stanley currently has an overweight rating on the biotechnology company’s stock.

A number of other equities analysts have also recently commented on RGNX. ValuEngine cut Regenxbio from a strong-buy rating to a buy rating in a research note on Thursday, October 11th. BidaskClub cut Regenxbio from a buy rating to a hold rating in a research note on Friday, October 5th. Raymond James set a $96.00 target price on Regenxbio and gave the company a buy rating in a research note on Thursday, November 8th. Bank of America boosted their target price on Regenxbio from $76.00 to $84.00 and gave the company a neutral rating in a research note on Thursday, November 8th. Finally, Chardan Capital reissued a buy rating and set a $127.50 target price on shares of Regenxbio in a research note on Monday, December 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $77.56.

Shares of NASDAQ RGNX traded down $1.27 during trading hours on Wednesday, reaching $44.78. 302,891 shares of the stock traded hands, compared to its average volume of 514,263. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -18.28 and a beta of 0.44. Regenxbio has a 52-week low of $23.25 and a 52-week high of $85.10.

Regenxbio (NASDAQ:RGNX) last announced its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.30. The company had revenue of $5.31 million for the quarter. Regenxbio had a return on equity of 22.52% and a net margin of 44.30%. As a group, sell-side analysts anticipate that Regenxbio will post 2.23 earnings per share for the current fiscal year.

In other Regenxbio news, CFO Vittal Vasista sold 7,500 shares of the business’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $59.37, for a total value of $445,275.00. Following the sale, the chief financial officer now directly owns 142,283 shares of the company’s stock, valued at $8,447,341.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Patrick J. Christmas sold 5,000 shares of the business’s stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $61.78, for a total value of $308,900.00. Following the completion of the sale, the senior vice president now directly owns 22,669 shares in the company, valued at $1,400,490.82. The disclosure for this sale can be found here. Insiders have sold 441,444 shares of company stock worth $27,789,167 over the last 90 days. 16.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Regenxbio by 12.1% in the third quarter. BlackRock Inc. now owns 4,727,045 shares of the biotechnology company’s stock worth $356,893,000 after purchasing an additional 508,632 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Regenxbio by 51.0% in the third quarter. Vanguard Group Inc now owns 2,805,969 shares of the biotechnology company’s stock worth $211,851,000 after purchasing an additional 947,671 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Regenxbio by 51.0% in the third quarter. Vanguard Group Inc. now owns 2,805,969 shares of the biotechnology company’s stock worth $211,851,000 after purchasing an additional 947,671 shares during the last quarter. RTW Investments LP raised its stake in shares of Regenxbio by 10.7% in the second quarter. RTW Investments LP now owns 2,079,555 shares of the biotechnology company’s stock worth $149,208,000 after purchasing an additional 201,788 shares during the last quarter. Finally, Redmile Group LLC raised its stake in shares of Regenxbio by 6.1% in the third quarter. Redmile Group LLC now owns 1,656,065 shares of the biotechnology company’s stock worth $125,033,000 after purchasing an additional 94,890 shares during the last quarter. 78.87% of the stock is currently owned by institutional investors and hedge funds.

About Regenxbio

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 that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

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