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Regenxbio (RGNX) Soars 13.43% on Positive Trial Data, Morgan Stanley Upgrade
Generated by AI AgentAinvest Movers Radar
Wednesday, Apr 23, 2025 6:24 pm ET1min read
Regenxbio (RGNX) surged 13.43% today, marking its third consecutive day of gains, with a cumulative increase of 49.33% over the past three days. The share price reached its highest level since December 2024, with an intraday gain of 17.14%.
Morgan Stanley recently increased their price target on
shares from $22.00 to $24.00, assigning the company an "overweight" rating. This positive outlook from a major financial institution likely contributed to the recent surge in the stock price. The upgrade reflects Morgan Stanley's confidence in Regenxbio's growth prospects and its potential to outperform the market.In addition to the price target increase, Regenxbio's stock price has been buoyed by positive trial data for RGX-202, which was reported on March 19, 2025. The encouraging results from the clinical trial have generated optimism among investors, as they indicate the potential efficacy of RGX-202 in treating its target indications. This positive news has further fueled the stock's upward momentum, as investors anticipate potential regulatory approvals and commercialization of the drug.
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