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

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

REGENXBIO Stock Performance

NASDAQ:RGNX traded down $1.04 during mid-day trading on Thursday, hitting $15.63. 297,173 shares of the company’s stock traded hands, compared to its average volume of 676,476. The company 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 company has a market capitalization of $766.54 million, a P/E ratio of -2.69 and a beta of 1.38.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RGNX shares. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of REGENXBIO in a report on Monday, March 11th. StockNews.com downgraded REGENXBIO from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird boosted their target price on shares of REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. SVB Leerink raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 price target on the stock in a research note on Wednesday, March 6th. Finally, Raymond James restated an “outperform” rating and set a $45.00 price objective on shares of REGENXBIO in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.45.

Insider Transactions at REGENXBIO

In related news, CEO Kenneth T. Mills sold 15,000 shares of the 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 directly owns 408,035 shares of the company’s stock, valued at approximately $6,838,666.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kenneth T. Mills sold 15,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $6,838,666.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the insider now owns 107,192 shares in the company, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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.