Analysts Offer Predictions for REGENXBIO FY2024 Earnings

REGENXBIO Inc. (NASDAQ:RGNX - Free Report) - Equities researchers at Leerink Partnrs cut their FY2024 earnings per share (EPS) estimates for shares of REGENXBIO in a report released on Wednesday, November 6th. Leerink Partnrs analyst M. Foroohar now anticipates that the biotechnology company will post earnings of ($4.95) per share for the year, down from their previous forecast of ($4.74). The consensus estimate for REGENXBIO's current full-year earnings is ($4.77) per share. Leerink Partnrs also issued estimates for REGENXBIO's Q4 2024 earnings at ($1.36) EPS, FY2025 earnings at ($1.72) EPS, FY2026 earnings at ($2.64) EPS, FY2027 earnings at ($1.87) EPS and FY2028 earnings at $0.22 EPS.

A number of other analysts have also recently weighed in on the stock. Raymond James reaffirmed an "outperform" rating and set a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. StockNews.com upgraded REGENXBIO from a "sell" rating to a "hold" rating in a research note on Friday, September 20th. Chardan Capital restated a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Tuesday, October 22nd. HC Wainwright upped their price target on shares of REGENXBIO from $39.00 to $40.00 and gave the company a "buy" rating in a report on Thursday. Finally, Barclays dropped their target price on shares of REGENXBIO from $55.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.55.

REGENXBIO Stock Performance

REGENXBIO stock traded up $0.40 during trading on Monday, hitting $11.56. The company's stock had a trading volume of 723,586 shares, compared to its average volume of 599,147. REGENXBIO has a 1-year low of $8.53 and a 1-year high of $28.80. The stock's fifty day moving average is $10.58 and its 200 day moving average is $12.44. The stock has a market capitalization of $572.68 million, a price-to-earnings ratio of -2.22 and a beta of 1.23.

Insider Activity

In other news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total transaction of $101,100.00. Following the transaction, the director now owns 11,286 shares in the company, valued at approximately $114,101.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.13% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RGNX. Redmile Group LLC lifted its position in REGENXBIO by 21.0% during the first quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company's stock valued at $95,901,000 after purchasing an additional 790,866 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of REGENXBIO by 258.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 816,384 shares of the biotechnology company's stock valued at $9,552,000 after acquiring an additional 588,773 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of REGENXBIO by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company's stock valued at $102,756,000 after acquiring an additional 436,043 shares during the last quarter. Artal Group S.A. bought a new position in shares of REGENXBIO during the 1st quarter valued at approximately $5,268,000. Finally, Integral Health Asset Management LLC raised its position in REGENXBIO by 25.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 950,000 shares of the biotechnology company's stock worth $11,115,000 after purchasing an additional 190,000 shares during the period. 88.08% of the stock is currently owned by institutional investors.

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.