Norges Bank Purchases Shares of 449,400 REGENXBIO Inc. (NASDAQ:RGNX)

Norges Bank purchased a new position in shares of REGENXBIO Inc. (NASDAQ:RGNX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 449,400 shares of the biotechnology company's stock, valued at approximately $3,474,000. Norges Bank owned approximately 0.91% of REGENXBIO at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of REGENXBIO by 67.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company's stock valued at $31,975,000 after purchasing an additional 1,659,206 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of REGENXBIO by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company's stock worth $11,422,000 after buying an additional 44,037 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in REGENXBIO by 53.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company's stock valued at $6,621,000 after buying an additional 296,700 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in REGENXBIO by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 417,739 shares of the biotechnology company's stock valued at $4,382,000 after acquiring an additional 37,055 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in REGENXBIO by 8.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 164,729 shares of the biotechnology company's stock worth $1,273,000 after acquiring an additional 13,014 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

REGENXBIO Stock Performance

Shares of RGNX traded down $0.40 during mid-day trading on Wednesday, reaching $6.15. 82,458 shares of the company were exchanged, compared to its average volume of 795,279. The business has a 50 day simple moving average of $6.92 and a two-hundred day simple moving average of $8.23. The stock has a market capitalization of $308.22 million, a PE ratio of -1.23 and a beta of 1.26. REGENXBIO Inc. has a 52 week low of $5.04 and a 52 week high of $18.24.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.27) by $0.26. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. The firm had revenue of $21.21 million for the quarter, compared to the consensus estimate of $23.70 million. On average, analysts predict that REGENXBIO Inc. will post -4.84 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James began coverage on shares of REGENXBIO in a report on Friday, February 7th. They set an "outperform" rating and a $27.00 price target on the stock. HC Wainwright dropped their price target on REGENXBIO from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Chardan Capital reissued a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a report on Thursday, March 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $30.00 target price on shares of REGENXBIO in a research report on Tuesday, January 21st. Finally, Leerink Partners set a $24.00 price target on REGENXBIO in a report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.88.

About REGENXBIO

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.