REGENXBIO (NASDAQ:RGNX) Posts Earnings Results, Misses Estimates By $0.10 EPS

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

REGENXBIO Trading Down 2.8 %

Shares of RGNX stock traded down $0.46 during trading hours on Thursday, hitting $16.21. 197,910 shares of the company were exchanged, compared to its average volume of 675,475. REGENXBIO has a 52-week low of $11.83 and a 52-week high of $28.80. The stock has a market capitalization of $794.99 million, a price-to-earnings ratio of -2.76 and a beta of 1.38. The firm has a fifty day simple moving average of $19.51 and a 200 day simple moving average of $17.86.

Wall Street Analyst Weigh In

RGNX has been the topic of several recent research reports. StockNews.com cut shares of REGENXBIO from a “hold” rating to a “sell” rating in a research report on Tuesday. Wedbush reissued a “neutral” rating and set a $21.00 target price on shares of REGENXBIO in a research report on Wednesday, February 28th. Raymond James reissued an “outperform” rating and set a $45.00 target price on shares of REGENXBIO in a research report on Wednesday, February 21st. HC Wainwright reissued a “buy” rating and set a $36.00 target price on shares of REGENXBIO in a research report on Monday, March 11th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $40.00 target price on shares of REGENXBIO in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, REGENXBIO currently has a consensus rating of “Moderate Buy” and an average price target of $38.45.

Insider Activity at REGENXBIO

In related news, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the transaction, the insider now directly owns 107,192 shares in the company, valued at approximately $3,039,965.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the completion of the transaction, the insider now directly owns 107,192 shares in the company, valued at approximately $3,039,965.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $21.86, for a total transaction of $327,900.00. Following the completion of the transaction, the chief executive officer now owns 408,035 shares of the company’s stock, valued at $8,919,645.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,878 shares of company stock worth $1,217,370. Corporate insiders own 13.13% 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.