REGENXBIO (NASDAQ:RGNX) Sees Large Volume Increase – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX) shares saw unusually-high trading volume on Monday . Approximately 1,477,339 shares traded hands during trading, an increase of 143% from the previous session’s volume of 608,766 shares.The stock last traded at $10.47 and had previously closed at $9.63.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RGNX. Barclays reduced their price objective on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. HC Wainwright boosted their price target on shares of REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price objective on shares of REGENXBIO in a report on Friday, November 15th. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, Chardan Capital restated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.64.

REGENXBIO Stock Down 5.8 %

The stock has a fifty day moving average price of $10.43 and a 200-day moving average price of $12.16. The firm has a market cap of $473.60 million, a price-to-earnings ratio of -1.90 and a beta of 1.23.

Insider Activity at REGENXBIO

In related news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the completion of the transaction, the director now directly owns 11,286 shares of the company’s stock, valued at $114,101.46. This represents a 46.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 13.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGNX. FMR LLC lifted its holdings in shares of REGENXBIO by 166.8% in the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 1,656 shares during the period. nVerses Capital LLC lifted its holdings in 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. Allspring Global Investments Holdings LLC purchased a new stake in shares of REGENXBIO during the 1st quarter worth $56,000. China Universal Asset Management Co. Ltd. boosted its position in shares of REGENXBIO by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 3,720 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of REGENXBIO during the 2nd quarter worth $121,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.