TRex Bio (NASDAQ:TRXB) Announces Quarterly Earnings Results

TRex Bio (NASDAQ:TRXB) posted its quarterly earnings results on Friday. The company reported ($10.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($9.37), Zacks reports.

TRex Bio Price Performance

Shares of TRXB traded down $0.43 during trading hours on Friday, hitting $13.67. 62,668 shares of the company were exchanged, compared to its average volume of 90,289. TRex Bio has a one year low of $12.50 and a one year high of $16.56.

Insider Activity at TRex Bio

In other news, major shareholder Alexandria Venture Investments bought 178,571 shares of the company’s stock in a transaction dated Tuesday, October 13th. The shares were acquired at an average cost of $14.00 per share, with a total value of $2,499,994.00. Following the completion of the transaction, the insider directly owned 1,346,501 shares in the company, valued at approximately $18,851,014. The trade was a 15.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRXB. Cantor Fitzgerald assumed coverage on TRex Bio in a research note on Tuesday, November 3rd. They set an “overweight” rating for the company. Stifel Nicolaus assumed coverage on shares of TRex Bio in a research report on Tuesday, November 3rd. They set a “buy” rating and a $39.00 price objective for the company. Evercore began coverage on TRex Bio in a research note on Tuesday, November 3rd. They set a “strong-buy” rating for the company. JPMorgan Chase & Co. started coverage on shares of TRex Bio in a research note on Tuesday, November 3rd. They issued an “overweight” rating and a $20.00 price target on the stock. Finally, Wedbush assumed coverage on TRex Bio in a report on Monday, November 2nd. They set an “outperform” rating and a $30.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, TRex Bio presently has an average rating of “Buy” and an average price target of $29.67.

About TRex Bio

We are a clinical-stage biopharmaceutical company focused on tissue Treg biology for the discovery and development of immunoregulatory medicines designed to restore immune balance and promote tissue repair to address unmet needs of patients with autoimmune and inflammatory diseases. TRexBio was built on a pivotal scientific insight: that regulatory T cells (“Tregs”) in human tissue are not merely passive suppressors of inflammation, but active orchestrators of tissue immune homeostasis and repair.