REGENXBIO (NASDAQ:RGNX) Issues Earnings Results

REGENXBIO (NASDAQ:RGNX) announced its earnings results on Wednesday. The biotechnology company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01), reports. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 68.19%. The business had revenue of $24.20 million for the quarter, compared to analysts’ expectations of $21.35 million.

REGENXBIO Trading Down 0.3 %

Shares of NASDAQ:RGNX traded down $0.03 during midday trading on Friday, reaching $11.16. 1,085,436 shares of the company were exchanged, compared to its average volume of 598,573. The business’s fifty day moving average is $10.58 and its two-hundred day moving average is $12.49. REGENXBIO has a one year low of $8.53 and a one year high of $28.80. The stock has a market cap of $551.53 million, a PE ratio of -2.22 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RGNX. Chardan Capital reaffirmed a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a report on Tuesday, October 22nd. Raymond James reiterated an “outperform” rating and issued a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. Barclays dropped their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Finally, HC Wainwright upped their price target on shares of REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.55.

Insider Buying and Selling

In other REGENXBIO news, Director Argeris N. Karabelas sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the completion of the transaction, the director now owns 11,286 shares in the company, valued at $114,101.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in REGENXBIO during the third quarter valued at $161,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of REGENXBIO in the third quarter valued at $643,000. Sigma Planning Corp raised its stake in shares of REGENXBIO by 17.5% in the third quarter. Sigma Planning Corp now owns 38,210 shares of the biotechnology company’s stock valued at $401,000 after acquiring an additional 5,701 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of REGENXBIO by 48.5% in the third quarter. Harbor Capital Advisors Inc. now owns 36,082 shares of the biotechnology company’s stock valued at $379,000 after acquiring an additional 11,784 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in REGENXBIO by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock worth $100,000 after buying an additional 3,720 shares during the period. Institutional investors own 88.08% 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.