REGENXBIO (RGNX) Set to Announce Quarterly Earnings on Wednesday

REGENXBIO (NASDAQ:RGNX) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect REGENXBIO to post earnings of ($1.28) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.16). The company had revenue of $22.30 million during the quarter, compared to the consensus estimate of $34.01 million. REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.38) earnings per share. On average, analysts expect REGENXBIO to post $-4 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

REGENXBIO Stock Performance

Shares of NASDAQ:RGNX traded down $0.51 during trading on Tuesday, reaching $16.36. 23,777 shares of the company were exchanged, compared to its average volume of 680,645. The business’s fifty day simple moving average is $19.63 and its 200-day simple moving average is $17.86. REGENXBIO has a 12-month low of $11.83 and a 12-month high of $28.80.

Insiders Place Their Bets

In other news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $18.19, for a total value of $272,850.00. Following the sale, the chief executive officer now owns 408,035 shares in the company, valued at $7,422,156.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $7,422,156.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steve Pakola sold 12,878 shares of REGENXBIO 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 of the company’s stock, valued at $3,039,965.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,878 shares of company stock valued at $1,217,370. 13.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RGNX. Chardan Capital restated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research note on Thursday, March 7th. Barclays increased their price objective on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of REGENXBIO in a research note on Wednesday, February 28th. Leerink Partnrs upgraded REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a report on Monday, March 11th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.45.

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.