Regenxbio Inc (NASDAQ:RGNX) Expected to Announce Quarterly Sales of $6.26 Million

Equities analysts forecast that Regenxbio Inc (NASDAQ:RGNX) will announce $6.26 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Regenxbio’s earnings, with the lowest sales estimate coming in at $5.31 million and the highest estimate coming in at $7.20 million. Regenxbio reported sales of $5.31 million during the same quarter last year, which indicates a positive year over year growth rate of 17.9%. The business is expected to announce its next earnings report on Wednesday, November 6th.

On average, analysts expect that Regenxbio will report full year sales of $47.55 million for the current financial year, with estimates ranging from $13.26 million to $76.35 million. For the next financial year, analysts anticipate that the business will report sales of $193.82 million, with estimates ranging from $157.26 million to $286.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Regenxbio.

Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.46. The business had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $5.45 million. Regenxbio had a negative net margin of 88.57% and a negative return on equity of 15.39%. The business’s quarterly revenue was down 80.3% on a year-over-year basis. During the same period last year, the company posted $0.30 earnings per share.

A number of research analysts have recently issued reports on RGNX shares. ValuEngine upgraded shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Chardan Capital set a $150.00 price objective on shares of Regenxbio and gave the company a “buy” rating in a report on Wednesday, September 4th. Evercore ISI set a $79.00 price objective on shares of Regenxbio and gave the company a “buy” rating in a report on Wednesday, August 7th. Leerink Swann upgraded shares of Regenxbio from an “underperform” rating to a “market perform” rating in a report on Tuesday, August 20th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $84.00 price objective on shares of Regenxbio and gave the company a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $79.56.

In other Regenxbio news, SVP Patrick J. Christmas sold 5,000 shares of Regenxbio stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $50.03, for a total value of $250,150.00. Following the sale, the senior vice president now owns 3,058 shares of the company’s stock, valued at $152,991.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth T. Mills sold 15,000 shares of Regenxbio stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $37.55, for a total transaction of $563,250.00. Following the completion of the sale, the insider now directly owns 261,000 shares in the company, valued at approximately $9,800,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,486 shares of company stock worth $2,183,662. Insiders own 13.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Berman Capital Advisors LLC raised its position in shares of Regenxbio by 41.6% in the second quarter. Berman Capital Advisors LLC now owns 1,133 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 333 shares during the period. NEXT Financial Group Inc bought a new stake in shares of Regenxbio in the second quarter valued at approximately $69,000. SG3 Management LLC bought a new stake in shares of Regenxbio in the first quarter valued at approximately $115,000. Royal Bank of Canada raised its position in shares of Regenxbio by 36.2% in the second quarter. Royal Bank of Canada now owns 3,910 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 1,040 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Regenxbio in the second quarter valued at approximately $216,000. 79.40% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:RGNX traded up $0.87 during trading hours on Wednesday, reaching $37.77. The company had a trading volume of 284,405 shares, compared to its average volume of 559,677. The company has a quick ratio of 14.58, a current ratio of 14.58 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 15.87 and a beta of 0.82. The business’s 50-day simple moving average is $35.78 and its two-hundred day simple moving average is $45.48. Regenxbio has a twelve month low of $30.38 and a twelve month high of $73.81.

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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