Research Analysts Set Expectations for REGENXBIO Inc.’s Q2 2024 Earnings (NASDAQ:RGNX)

REGENXBIO Inc. (NASDAQ:RGNX) – HC Wainwright upped their Q2 2024 earnings estimates for shares of REGENXBIO in a research note issued on Wednesday, May 15th. HC Wainwright analyst Y. Chen now anticipates that the biotechnology company will earn ($1.27) per share for the quarter, up from their prior forecast of ($1.40). HC Wainwright currently has a “Buy” rating and a $38.00 target price on the stock. The consensus estimate for REGENXBIO’s current full-year earnings is ($4.02) per share. HC Wainwright also issued estimates for REGENXBIO’s Q3 2024 earnings at ($1.28) EPS, Q4 2024 earnings at ($1.29) EPS, FY2024 earnings at ($5.21) EPS, Q1 2025 earnings at ($1.31) EPS, Q2 2025 earnings at $1.25 EPS, Q3 2025 earnings at ($1.30) EPS and FY2025 earnings at ($2.63) EPS.

RGNX has been the subject of several other reports. Robert W. Baird upped their price target on REGENXBIO from $34.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Barclays increased their target price on shares of REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. StockNews.com cut shares of REGENXBIO from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Wedbush reissued a “neutral” rating and issued a $21.00 price objective on shares of REGENXBIO in a research report on Wednesday, February 28th. Finally, Leerink Partnrs raised REGENXBIO from a “market perform” rating to an “outperform” rating in a research report 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. According to MarketBeat, REGENXBIO presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.64.

REGENXBIO Stock Down 0.1 %

RGNX stock opened at $15.99 on Friday. REGENXBIO has a 52 week low of $11.83 and a 52 week high of $28.80. The company has a market cap of $787.67 million, a price-to-earnings ratio of -2.72 and a beta of 1.38. The business has a fifty day simple moving average of $18.63 and a 200-day simple moving average of $17.91.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The company had revenue of $15.60 million for the quarter, compared to analysts’ expectations of $23.52 million. During the same period in the prior year, the business earned ($1.53) EPS. The business’s revenue for the quarter was down 18.3% on a year-over-year basis.

Insiders Place Their Bets

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $21.86, for a total value of $327,900.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $8,919,645.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Kenneth T. Mills sold 15,000 shares of REGENXBIO stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $21.86, for a total value of $327,900.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at $8,919,645.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Pakola sold 12,878 shares of the business’s 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 sale, the insider now owns 107,192 shares of the company’s stock, valued at $3,039,965.12. The disclosure for this sale can be found here. Insiders have sold 57,878 shares of company stock worth $1,203,120 in the last three months. 13.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in REGENXBIO by 9.8% in the first quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock worth $102,756,000 after acquiring an additional 436,043 shares during the last quarter. Redmile Group LLC increased its position in REGENXBIO by 21.0% in the first quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock worth $95,901,000 after buying an additional 790,866 shares during the period. Dimensional Fund Advisors LP lifted its stake in REGENXBIO by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock valued at $22,025,000 after buying an additional 34,385 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in REGENXBIO by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 562,391 shares of the biotechnology company’s stock valued at $9,257,000 after purchasing an additional 1,493 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new position in REGENXBIO during the 4th quarter worth $6,146,000. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Company Profile

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.