Geode Capital Management Increases Stake in REGENXBIO Inc.

Geode Capital Management LLC has recently increased its investment in REGENXBIO Inc. (NASDAQ:RGNX) by 4.2% during the third quarter, according to reports from Holdings Channel. The management firm now holds a total of 1,088,651 shares of the biotechnology company after acquiring an additional 44,037 shares during this period. As of their latest filing with the Securities and Exchange Commission, Geode Capital Management's holdings in REGENXBIO are valued at approximately $11,422,000.

In addition to Geode Capital, other hedge funds have also made adjustments to their stakes in the company. FMR LLC has notably increased its stake in REGENXBIO by 166.8% in the third quarter, bringing their total holdings to 2,649 shares valued at $28,000 after acquiring an extra 1,656 shares. Similarly, nVerses Capital LLC boosted its stake by 183.3%, owning 3,400 shares worth $36,000 after purchasing 2,200 additional shares during the last quarter. Furthermore, China Universal Asset Management Co. Ltd. increased its stake by 64.3%, now holding 9,506 shares valued at $100,000 following the acquisition of 3,720 shares. Arizona State Retirement System also saw a 20.6% growth in its holdings, owning a total of 11,669 shares worth $137,000 after adding 1,997 shares. Lastly, Erste Asset Management GmbH has purchased a new stake in REGENXBIO valued at about $140,000 during the third quarter. Currently, institutional investors own 88.08% of REGENXBIO's stock.

Recent Stock Performance

On Wednesday, shares of REGENXBIO (NASDAQ:RGNX) opened at $7.73. The company boasts a market capitalization of $382.98 million, with a P/E ratio of -1.54 and a beta of 1.24. Over the past year, REGENXBIO has seen its stock price dip to a low of $7.14 and peak at $28.80. Additionally, the company has a 50-day moving average price of $9.17 and a 200-day moving average price of $10.86.

Analyst Opinions

REGENXBIO has garnered attention from analysts recently. StockNews.com has revised its rating from "sell" to "hold" as of September 20th. Morgan Stanley affirmed an "overweight" rating for the company, setting a target price of $22.00 in a report circulated on November 15th. Raymond James reiterated an "outperform" rating with a price target of $18.00 as per a report on October 10th. Royal Bank of Canada has an "outperform" rating for the stock with a price objective of $35.00 as of December 11th. Moreover, HC Wainwright adjusted its target price downward from $40.00 to $36.00 while maintaining a "buy" rating in a report on November 21st. Across analysts, two have rated the stock as a hold while eleven have rated it as a buy, indicating a consensus of a "Moderate Buy" and an average price target of $35.27 according to MarketBeat.com.

About REGENXBIO Inc.

REGENXBIO Inc. is a clinical-stage biotechnology company focused on developing innovative gene therapies. The company utilizes its proprietary NAV Technology Platform, which involves adeno-associated virus gene delivery systems to provide functional genes to cells with genetic defects. Among its key product candidates is ABBV-RGX-314, which targets wet age-related macular degeneration, diabetic retinopathy, and other serious retinal diseases. Additionally, RGX-202 is currently undergoing Phase I/II clinical trials for the treatment of Duchenne muscular dystrophy.

Investment, Biotechnology, Analysts