Cubist Systematic Strategies LLC Makes New $2.79 Million Investment in REGENXBIO Inc. (NASDAQ:RGNX)

Cubist Systematic Strategies LLC acquired a new stake in REGENXBIO Inc. (NASDAQ:RGNX) during the fourth quarter, HoldingsChannel reports. The firm acquired 361,313 shares of the biotechnology company’s stock, valued at approximately $2,793,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in REGENXBIO by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 1,982 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of REGENXBIO by 19.9% in the 4th quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 2,088 shares during the last quarter. DnB Asset Management AS raised its stake in REGENXBIO by 20.1% during the 4th quarter. DnB Asset Management AS now owns 14,539 shares of the biotechnology company’s stock worth $112,000 after acquiring an additional 2,434 shares in the last quarter. GAMMA Investing LLC lifted its position in REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 2,510 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in REGENXBIO by 7.5% in the fourth quarter. Voya Investment Management LLC now owns 43,502 shares of the biotechnology company’s stock valued at $336,000 after acquiring an additional 3,024 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Stock Up 5.2 %

Shares of NASDAQ:RGNX opened at $7.52 on Friday. REGENXBIO Inc. has a fifty-two week low of $5.04 and a fifty-two week high of $16.85. The firm’s 50-day simple moving average is $7.32 and its 200-day simple moving average is $8.01. The company has a market cap of $376.88 million, a price-to-earnings ratio of -1.50 and a beta of 1.11.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley boosted their target price on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Raymond James initiated coverage on REGENXBIO in a report on Friday, February 7th. They issued an “outperform” rating and a $27.00 price objective for the company. The Goldman Sachs Group cut their target price on shares of REGENXBIO from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of REGENXBIO in a research report on Tuesday, January 21st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.63.

REGENXBIO 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.