REGENXBIO (NASDAQ:RGNX) Posts Earnings Results, Beats Expectations By $0.18 EPS

REGENXBIO (NASDAQ:RGNX) posted its quarterly earnings results on Thursday. The biotechnology company reported ($1.20) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.18, Zacks reports. The company had revenue of $29.73 million for the quarter, compared to the consensus estimate of $24.41 million. REGENXBIO had a negative return on equity of 78.29% and a negative net margin of 110.29%.

REGENXBIO Price Performance

REGENXBIO stock traded up $0.04 during midday trading on Friday, reaching $11.21. 623,186 shares of the company traded hands, compared to its average volume of 571,538. REGENXBIO has a 12 month low of $5.03 and a 12 month high of $13.93. The business has a 50 day moving average of $10.78 and a two-hundred day moving average of $9.49. The firm has a market capitalization of $566.22 million, a price-to-earnings ratio of -3.23 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RGNX. Barclays cut their target price on REGENXBIO from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. HC Wainwright reissued a “buy” rating and set a $34.00 price objective on shares of REGENXBIO in a research report on Tuesday, October 7th. Wall Street Zen raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of REGENXBIO in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price objective on shares of REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.63.

Insider Buying and Selling

In other REGENXBIO news, CEO Curran Simpson sold 20,811 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $12.62, for a total transaction of $262,634.82. Following the completion of the sale, the chief executive officer directly owned 216,162 shares in the company, valued at approximately $2,727,964.44. The trade was a 8.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 36,169 shares of company stock valued at $416,598. Insiders own 12.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in REGENXBIO by 2,247.7% in the first quarter. AQR Capital Management LLC now owns 620,595 shares of the biotechnology company’s stock worth $4,437,000 after purchasing an additional 594,161 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of REGENXBIO by 151.1% in the first quarter. Jane Street Group LLC now owns 414,067 shares of the biotechnology company’s stock worth $2,961,000 after buying an additional 249,156 shares during the last quarter. Squarepoint Ops LLC grew its position in REGENXBIO by 2,049.0% during the second quarter. Squarepoint Ops LLC now owns 219,288 shares of the biotechnology company’s stock valued at $1,800,000 after buying an additional 209,084 shares during the period. Nebula Research & Development LLC purchased a new stake in REGENXBIO during the second quarter valued at approximately $1,242,000. Finally, Qube Research & Technologies Ltd raised its position in REGENXBIO by 16.4% in the second quarter. Qube Research & Technologies Ltd now owns 457,112 shares of the biotechnology company’s stock worth $3,753,000 after acquiring an additional 64,317 shares during the period. Institutional investors own 88.08% 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.