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

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

REGENXBIO Trading Up 0.4%

NASDAQ RGNX traded up $0.04 during trading hours on Friday, reaching $11.21. The company’s stock had a trading volume of 623,186 shares, compared to its average volume of 571,538. The business has a 50-day simple moving average of $10.78 and a 200 day simple moving average of $9.49. REGENXBIO has a 52 week low of $5.03 and a 52 week high of $13.93. The stock has a market cap of $566.22 million, a PE ratio of -3.23 and a beta of 1.23.

Insider Buying and Selling at REGENXBIO

In related news, CEO Curran Simpson sold 20,811 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $12.62, for a total value of $262,634.82. Following the sale, the chief executive officer owned 216,162 shares of the company’s stock, valued at approximately $2,727,964.44. This trade represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 36,169 shares of company stock worth $416,598. 12.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC increased its holdings in shares of REGENXBIO by 46.1% in the 2nd quarter. Cerity Partners LLC now owns 46,541 shares of the biotechnology company’s stock worth $382,000 after acquiring an additional 14,695 shares during the period. Invesco Ltd. boosted its stake in REGENXBIO by 42.5% during the 2nd quarter. Invesco Ltd. now owns 113,209 shares of the biotechnology company’s stock valued at $929,000 after purchasing an additional 33,740 shares during the period. American Century Companies Inc. grew its position in REGENXBIO by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 110,066 shares of the biotechnology company’s stock worth $904,000 after purchasing an additional 8,487 shares during the last quarter. Jane Street Group LLC increased its stake 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 valued at $2,961,000 after purchasing an additional 249,156 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of REGENXBIO in the second quarter valued at approximately $108,000. 88.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RGNX shares. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a report on Monday, September 8th. Barclays reduced their price target on shares of REGENXBIO from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Wall Street Zen lowered REGENXBIO from a “hold” rating to a “strong sell” rating in a report on Saturday, August 9th. HC Wainwright restated a “buy” rating and set a $34.00 price objective on shares of REGENXBIO in a research note on Tuesday, October 7th. Finally, Royal Bank Of Canada increased their target price on REGENXBIO from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.63.

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.