Todays Report: Today, Regenxbio Inc. (RGNX) Given Average Recommendation of “Strong Buy” by Brokerages

Today, Regenxbio Inc. (RGNX) Given Average Recommendation of “Strong Buy” by Brokerages

Regenxbio Inc. (NASDAQ:RGNX) has earned an average broker rating score of 1.13 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and three have assigned a strong buy rating to the company.

Brokerages have set a 1-year consensus price objective of $30.50 for the company and are predicting that the company will post ($0.60) EPS for the current quarter, according to Zacks. Zacks has also assigned Regenxbio an industry rank of 71 out of 265 based on the ratings given to its competitors.

RGNX has been the subject of several recent research reports. Zacks Investment Research cut shares of Regenxbio from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. Piper Jaffray Cos. set a $25.00 target price on shares of Regenxbio and gave the company a “buy” rating in a research report on Thursday, August 18th. Finally, Chardan Capital reiterated a “buy” rating on shares of Regenxbio in a research report on Monday, August 22nd.

Hedge funds have recently added to or reduced their stakes in the stock. Endurant Capital Management LP purchased a new stake in Regenxbio during the third quarter worth approximately $168,000. Highbridge Capital Management LLC boosted its stake in Regenxbio by 79.7% in the third quarter. Highbridge Capital Management LLC now owns 18,359 shares of the company’s stock worth $258,000 after buying an additional 8,142 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Regenxbio during the third quarter worth approximately $211,000. TLP Group LLC purchased a new stake in Regenxbio during the third quarter worth approximately $106,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Regenxbio by 250.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company’s stock worth $2,452,000 after buying an additional 125,000 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Shares of Regenxbio (NASDAQ:RGNX) opened at 22.25 on Monday. The firm’s market cap is $589.07 million. Regenxbio has a 12 month low of $7.07 and a 12 month high of $25.00. The firm has a 50 day moving average price of $18.51 and a 200-day moving average price of $13.02.

Regenxbio Company Profile

REGENXBIO Inc is a biotechnology company. The Company is focused on the development, commercialization and licensing of recombinant adeno-associated virus (AAV) gene therapy. Its AAV gene delivery platform (its NAV Technology Platform) consists of rights to over 100 novel AAV vectors, including AAV7, AAV8, AAV9 and AAVrh10 (NAV Vectors).

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