REGENXBIO (NASDAQ:RGNX) Shares Gap Up – What’s Next?

REGENXBIO Inc. (NASDAQ:RGNX)’s share price gapped up before the market opened on Friday . The stock had previously closed at $11.14, but opened at $11.56. REGENXBIO shares last traded at $10.96, with a volume of 110,242 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RGNX shares. Chardan Capital reissued a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a report on Tuesday, October 22nd. Barclays lowered their target price on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Morgan Stanley restated an “overweight” rating and issued a $22.00 price target on shares of REGENXBIO in a research note on Friday. Raymond James reiterated an “outperform” rating and set a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. Finally, HC Wainwright boosted their price objective on REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.64.

REGENXBIO Stock Performance

The stock’s 50-day moving average is $10.54 and its two-hundred day moving average is $12.35. The stock has a market cap of $514.23 million, a PE ratio of -2.04 and a beta of 1.23.

Insiders Place Their Bets

In other news, Director Argeris N. Karabelas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the completion of the transaction, the director now owns 11,286 shares of the company’s stock, valued at approximately $114,101.46. This trade represents a 46.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.13% of the stock is owned by insiders.

Institutional Trading of REGENXBIO

A number of large investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of REGENXBIO by 166.8% during the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,656 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in REGENXBIO in the first quarter valued at approximately $56,000. nVerses Capital LLC boosted its holdings in shares of REGENXBIO by 183.3% in the third quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 2,200 shares during the period. Headlands Technologies LLC boosted its stake in REGENXBIO by 276.8% during the 1st quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 2,812 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of REGENXBIO by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 3,720 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.