FY2022 EPS Estimates for REGENXBIO Inc. (NASDAQ:RGNX) Lowered by SVB Leerink

REGENXBIO Inc. (NASDAQ:RGNXGet Rating) – Equities research analysts at SVB Leerink cut their FY2022 earnings estimates for shares of REGENXBIO in a note issued to investors on Monday, January 23rd. SVB Leerink analyst M. Foroohar now expects that the biotechnology company will post earnings of ($5.98) per share for the year, down from their previous forecast of ($3.48). SVB Leerink currently has a “Market Perform” rating and a $14.00 target price on the stock. The consensus estimate for REGENXBIO’s current full-year earnings is ($5.70) per share. SVB Leerink also issued estimates for REGENXBIO’s Q4 2022 earnings at ($1.03) EPS, Q1 2023 earnings at ($1.28) EPS, Q2 2023 earnings at ($1.28) EPS, Q3 2023 earnings at ($1.28) EPS, Q4 2023 earnings at ($1.28) EPS and FY2023 earnings at ($5.12) EPS.

Several other research analysts have also weighed in on the stock. TheStreet lowered shares of REGENXBIO from a “c” rating to a “d+” rating in a research note on Friday, November 4th. Wedbush reduced their price objective on shares of REGENXBIO from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Morgan Stanley reduced their price objective on shares of REGENXBIO from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, November 21st. Royal Bank of Canada reduced their price objective on shares of REGENXBIO from $47.00 to $29.00 in a research note on Tuesday, October 4th. Finally, StockNews.com assumed coverage on shares of REGENXBIO in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, REGENXBIO presently has an average rating of “Moderate Buy” and a consensus target price of $41.43.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX opened at $23.54 on Wednesday. The company has a 50 day moving average of $22.79 and a 200-day moving average of $25.74. REGENXBIO has a one year low of $18.69 and a one year high of $35.73. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 15.19 and a beta of 0.99.

REGENXBIO (NASDAQ:RGNXGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The biotechnology company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.55) by ($0.20). REGENXBIO had a return on equity of 12.22% and a net margin of 15.34%. The business had revenue of $26.51 million for the quarter, compared to analyst estimates of $29.77 million.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Virtus ETF Advisers LLC lifted its stake in REGENXBIO by 7.8% in the second quarter. Virtus ETF Advisers LLC now owns 5,209 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 379 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of REGENXBIO by 5.2% in the third quarter. Lazard Asset Management LLC now owns 10,251 shares of the biotechnology company’s stock valued at $270,000 after purchasing an additional 505 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of REGENXBIO by 2.0% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,655 shares of the biotechnology company’s stock valued at $605,000 after purchasing an additional 519 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of REGENXBIO by 2.8% in the second quarter. Texas Permanent School Fund now owns 27,435 shares of the biotechnology company’s stock valued at $678,000 after purchasing an additional 752 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of REGENXBIO by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 8,483 shares of the biotechnology company’s stock valued at $282,000 after purchasing an additional 804 shares during the last quarter. Institutional investors own 80.21% of the company’s stock.

About REGENXBIO

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REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform.

Further Reading

Earnings History and Estimates for REGENXBIO (NASDAQ:RGNX)

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