Leerink Partnrs Increases Earnings Estimates for REGENXBIO

REGENXBIO Inc. (NASDAQ:RGNX - Free Report) - Stock analysts at Leerink Partnrs upped their FY2024 earnings estimates for shares of REGENXBIO in a research report issued on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar now anticipates that the biotechnology company will earn ($4.86) per share for the year, up from their previous forecast of ($4.95). The consensus estimate for REGENXBIO's current full-year earnings is ($4.87) per share. Leerink Partnrs also issued estimates for REGENXBIO's Q4 2024 earnings at ($1.27) EPS, FY2025 earnings at $0.03 EPS, FY2026 earnings at ($0.52) EPS, FY2027 earnings at ($1.74) EPS and FY2028 earnings at ($0.70) EPS.

Other equities research analysts have also issued reports about the company. HC Wainwright restated a "buy" rating and issued a $36.00 price objective on shares of REGENXBIO in a research note on Wednesday, January 15th. Chardan Capital reaffirmed a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Wednesday, November 20th. StockNews.com lowered shares of REGENXBIO from a "hold" rating to a "sell" rating in a report on Thursday. Raymond James reaffirmed an "outperform" rating and set a $18.00 price target on shares of REGENXBIO in a report on Thursday, October 10th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $30.00 price objective on shares of REGENXBIO in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.82.

REGENXBIO Trading Down 0.9 %

RGNX stock traded down $0.07 during midday trading on Friday, reaching $7.88. 548,305 shares of the company's stock traded hands, compared to its average volume of 1,270,127. The stock's 50-day moving average is $8.42 and its 200 day moving average is $10.38. The stock has a market cap of $390.38 million, a P/E ratio of -1.57 and a beta of 1.28. REGENXBIO has a 52-week low of $6.56 and a 52-week high of $28.80.

Hedge Funds Weigh In On REGENXBIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC raised its holdings in shares of REGENXBIO by 7.1% during the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company's stock worth $51,327,000 after acquiring an additional 323,100 shares in the last quarter. Assenagon Asset Management S.A. increased its position in REGENXBIO by 53.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company's stock worth $6,621,000 after purchasing an additional 296,700 shares during the last quarter. Millennium Management LLC raised its stake in REGENXBIO by 84.8% during the second quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company's stock valued at $3,586,000 after purchasing an additional 140,666 shares in the last quarter. Squarepoint Ops LLC lifted its position in REGENXBIO by 630.9% during the second quarter. Squarepoint Ops LLC now owns 146,259 shares of the biotechnology company's stock valued at $1,711,000 after purchasing an additional 126,249 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of REGENXBIO by 73.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 188,235 shares of the biotechnology company's stock worth $2,202,000 after buying an additional 79,655 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

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.