REGENXBIO (NASDAQ:RGNX) Issues Earnings Results

REGENXBIO (NASDAQ:RGNX) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10), Briefing.com reports. The business had revenue of $15.60 million for the quarter, compared to analyst estimates of $23.52 million. REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The firm’s quarterly revenue was down 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.53) earnings per share.

REGENXBIO Stock Down 6.2 %

NASDAQ:RGNX traded down $1.04 on Thursday, reaching $15.63. The stock had a trading volume of 297,173 shares, compared to its average volume of 676,476. The company has a market capitalization of $766.54 million, a P/E ratio of -2.69 and a beta of 1.38. The stock has a fifty day moving average price of $19.51 and a 200-day moving average price of $17.86. REGENXBIO has a 1-year low of $11.83 and a 1-year high of $28.80.

Analyst Ratings Changes

A number of analysts have weighed in on RGNX shares. Leerink Partnrs raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 6th. Raymond James restated an “outperform” rating and set a $45.00 price target on shares of REGENXBIO in a research note on Wednesday, February 21st. Royal Bank of Canada upgraded REGENXBIO from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $35.00 in a research report on Friday, March 8th. SVB Leerink upgraded REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price objective on the stock in a research report on Wednesday, March 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a research report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.45.

Insider Activity

In other news, insider Steve Pakola sold 12,878 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total transaction of $365,220.08. Following the sale, the insider now owns 107,192 shares in the company, valued at $3,039,965.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Kenneth T. Mills sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $21.86, for a total value of $327,900.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at $8,919,645.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steve Pakola sold 12,878 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $28.36, for a total value of $365,220.08. Following the sale, the insider now directly owns 107,192 shares of the company’s stock, valued at $3,039,965.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,878 shares of company stock worth $1,217,370. Insiders own 13.13% of the company’s stock.

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.