REGENXBIO (NASDAQ:RGNX) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

REGENXBIO (NASDAQ:RGNX) posted its earnings results on Wednesday. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.28) by ($0.10), Briefing.com reports. The firm had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $23.52 million. REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The firm’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.53) earnings per share.

REGENXBIO Trading Down 2.8 %

Shares of RGNX stock traded down $0.46 during trading hours on Thursday, hitting $16.21. The company’s stock had a trading volume of 197,910 shares, compared to its average volume of 675,475. The business has a fifty day moving average of $19.51 and a 200-day moving average of $17.86. REGENXBIO has a twelve month low of $11.83 and a twelve month high of $28.80. The stock has a market cap of $794.99 million, a price-to-earnings ratio of -2.76 and a beta of 1.38.

Analysts Set New Price Targets

RGNX has been the topic of a number of recent research reports. SVB Leerink raised REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a report on Wednesday, March 6th. Barclays raised their price objective on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. StockNews.com cut REGENXBIO from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price target on shares of REGENXBIO in a report on Friday, April 12th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.45.

Insider Buying and Selling

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total transaction of $251,400.00. Following the sale, the chief executive officer now owns 408,035 shares in the company, valued at approximately $6,838,666.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total value of $251,400.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $6,838,666.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steve Pakola sold 12,878 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total transaction of $365,220.08. Following the transaction, the insider now directly owns 107,192 shares in the company, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Insiders sold 57,878 shares of company stock worth $1,217,370 in the last ninety days. 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.