Regenxbio (NASDAQ:RGNX) Posts Earnings Results, Beats Expectations By $0.46 EPS

Regenxbio (NASDAQ:RGNX) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.46, Bloomberg Earnings reports. The business had revenue of $7.88 million during the quarter, compared to analyst estimates of $5.45 million. Regenxbio had a negative net margin of 41.99% and a negative return on equity of 9.90%. The business’s revenue was down 80.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share.

RGNX stock traded down $2.09 during trading on Friday, hitting $39.24. 209,317 shares of the company’s stock traded hands, compared to its average volume of 582,060. The company has a quick ratio of 14.21, a current ratio of 14.21 and a debt-to-equity ratio of 0.01. Regenxbio has a 52 week low of $35.70 and a 52 week high of $83.45. The firm’s fifty day moving average price is $47.71. The stock has a market cap of $1.51 billion, a PE ratio of 16.49 and a beta of 0.71.

A number of analysts recently issued reports on RGNX shares. Evercore ISI set a $79.00 price target on shares of Regenxbio and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Regenxbio from a “sell” rating to a “hold” rating in a research note on Thursday, July 25th. Chardan Capital reiterated a “buy” rating and set a $150.00 target price (up previously from $145.00) on shares of Regenxbio in a research note on Tuesday, June 18th. ValuEngine upgraded shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Raymond James started coverage on shares of Regenxbio in a research note on Thursday, June 13th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.88.

In other news, insider Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $49.49, for a total transaction of $742,350.00. Following the completion of the transaction, the insider now owns 261,000 shares of the company’s stock, valued at $12,916,890. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Patrick J. Christmas sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $52.99, for a total transaction of $264,950.00. Following the transaction, the senior vice president now directly owns 8,006 shares of the company’s stock, valued at approximately $424,237.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,000 shares of company stock valued at $3,590,400. 13.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan acquired a new position in shares of Regenxbio during the fourth quarter valued at $357,000. Raymond James & Associates boosted its holdings in shares of Regenxbio by 119.5% during the first quarter. Raymond James & Associates now owns 37,952 shares of the biotechnology company’s stock valued at $2,175,000 after acquiring an additional 20,664 shares during the period. Amalgamated Bank acquired a new position in shares of Regenxbio during the fourth quarter valued at $208,000. Pier Capital LLC boosted its holdings in shares of Regenxbio by 104.2% during the first quarter. Pier Capital LLC now owns 131,258 shares of the biotechnology company’s stock valued at $7,522,000 after acquiring an additional 66,993 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Regenxbio during the first quarter valued at $407,000. 80.97% of the stock is owned by institutional investors.

About Regenxbio

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 (AAV) gene delivery platform.

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Earnings History for Regenxbio (NASDAQ:RGNX)

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