REGENXBIO (NASDAQ:RGNX) Issues Quarterly Earnings Results

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

REGENXBIO Stock Performance

NASDAQ:RGNX traded down $0.69 during mid-day trading on Thursday, hitting $15.98. 259,988 shares of the company’s stock traded hands, compared to its average volume of 676,136. The company has a market cap of $783.71 million, a PE ratio of -2.69 and a beta of 1.38. The firm’s 50 day simple moving average is $19.51 and its 200 day simple moving average is $17.86. REGENXBIO has a 1 year low of $11.83 and a 1 year high of $28.80.

Insider Buying and Selling at REGENXBIO

In related news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.76, for a total value of $251,400.00. Following the sale, the chief executive officer now owns 408,035 shares of the company’s stock, valued at approximately $6,838,666.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO 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 approximately $6,838,666.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steve Pakola sold 12,878 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 107,192 shares of the company’s stock, valued at approximately $3,039,965.12. The disclosure for this sale can be found here. Insiders have sold 57,878 shares of company stock valued at $1,217,370 over the last quarter. Corporate insiders own 13.13% of the company’s stock.

Analyst Upgrades and Downgrades

RGNX has been the topic of several analyst reports. Barclays lifted their price target on shares of REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Robert W. Baird increased their price target on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Stifel Nicolaus restated a “buy” rating and set a $40.00 price objective on shares of REGENXBIO in a report on Friday, April 12th. StockNews.com downgraded shares of REGENXBIO from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Leerink Partnrs upgraded shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.