REGENXBIO (NASDAQ:RGNX) Shares Pass Below 50 Day Moving Average – Here’s Why

REGENXBIO Inc. (NASDAQ:RGNX)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.33 and traded as low as $7.85. REGENXBIO shares last traded at $8.08, with a volume of 575,716 shares.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of REGENXBIO from $25.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. The Goldman Sachs Group decreased their price objective on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. UBS Group reissued an “overweight” rating and set a $18.00 target price on shares of REGENXBIO in a research note on Tuesday, February 10th. Leerink Partners boosted their target price on shares of REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Finally, Stifel Nicolaus increased their price target on REGENXBIO from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.80.

REGENXBIO Trading Up 1.8%

The company has a market cap of $409.01 million, a price-to-earnings ratio of -2.33 and a beta of 1.05. The stock’s 50-day moving average is $12.33 and its 200-day moving average is $11.42.

Institutional Trading of REGENXBIO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in REGENXBIO by 5.4% during the 4th quarter. Invesco Ltd. now owns 157,903 shares of the biotechnology company’s stock worth $2,274,000 after buying an additional 8,023 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of REGENXBIO by 21.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,140 shares of the biotechnology company’s stock valued at $348,000 after acquiring an additional 4,224 shares in the last quarter. Vestal Point Capital LP acquired a new position in shares of REGENXBIO during the fourth quarter worth approximately $490,000. Virtus Investment Advisers LLC raised its position in shares of REGENXBIO by 71.9% during the fourth quarter. Virtus Investment Advisers LLC now owns 19,181 shares of the biotechnology company’s stock worth $276,000 after purchasing an additional 8,026 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of REGENXBIO in the 4th quarter worth $350,000. 88.08% of the stock is owned by institutional investors.

About REGENXBIO

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.