REGENXBIO Inc. (NASDAQ:RGNX) Sees Significant Increase in Short Interest

REGENXBIO Inc. (NASDAQ:RGNX) was the recipient of a significant increase in short interest in February. As of February 13th, there was short interest totaling 5,998,350 shares, an increase of 23.0% from the January 29th total of 4,876,066 shares. Approximately 13.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,074,799 shares, the short-interest ratio is currently 5.6 days. Based on an average daily trading volume, of 1,074,799 shares, the short-interest ratio is currently 5.6 days. Approximately 13.6% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of REGENXBIO in a report on Thursday, January 22nd. HC Wainwright decreased their target price on shares of REGENXBIO from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Leerink Partners boosted their price objective on REGENXBIO from $16.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, December 15th. Morgan Stanley dropped 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. Finally, Chardan Capital cut their price target on REGENXBIO from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.80.

REGENXBIO Trading Down 6.0%

Shares of RGNX traded down $0.55 during trading hours on Tuesday, reaching $8.69. 735,728 shares of the company traded hands, compared to its average volume of 1,004,053. The firm has a market cap of $439.89 million, a price-to-earnings ratio of -2.50 and a beta of 1.08. The stock’s fifty day moving average price is $11.92 and its 200 day moving average price is $11.43. REGENXBIO has a 12-month low of $5.03 and a 12-month high of $16.19.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of REGENXBIO by 2,247.7% in the 1st quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after acquiring an additional 594,161 shares in the last quarter. Jane Street Group LLC increased its stake in REGENXBIO by 151.1% during the 1st quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock valued at $2,961,000 after purchasing an additional 249,156 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in REGENXBIO in the 2nd quarter worth $1,453,000. Savant Capital LLC acquired a new stake in shares of REGENXBIO during the second quarter worth about $226,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of REGENXBIO in the 2nd quarter valued at $1,030,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

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.