Leerink Partnrs Decreases Earnings Estimates for REGENXBIO

REGENXBIO Inc. (NASDAQ:RGNX) – Research analysts at Leerink Partnrs reduced their FY2024 earnings per share estimates for shares of REGENXBIO in a report issued on Wednesday, November 6th. Leerink Partnrs analyst M. Foroohar now forecasts that the biotechnology company will earn ($4.95) per share for the year, down from their prior 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.

Other equities research analysts also recently issued research reports about the stock. Raymond James reissued an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research report on Thursday, October 10th. HC Wainwright increased their target price on REGENXBIO from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Chardan Capital reiterated a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a report on Tuesday, October 22nd. Finally, Barclays dropped their target price on REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.55.

REGENXBIO Trading Down 9.3 %

RGNX stock opened at $10.49 on Monday. REGENXBIO has a 1-year low of $8.53 and a 1-year high of $28.80. The firm has a market cap of $519.67 million, a PE ratio of -2.09 and a beta of 1.23. The business’s 50-day moving average price is $10.55 and its two-hundred day moving average price is $12.37.

Insiders Place Their Bets

In related news, Director Argeris N. Karabelas sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.11, for a total value of $101,100.00. Following the completion of the sale, the director now directly owns 11,286 shares in the company, valued at $114,101.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Several institutional investors have recently made changes to their positions in RGNX. Allspring Global Investments Holdings LLC bought a new position in REGENXBIO during the 1st quarter worth $56,000. Janney Montgomery Scott LLC acquired a new stake in shares of REGENXBIO during the 1st quarter worth $304,000. Swiss National Bank increased its position in shares of REGENXBIO by 4.5% in the first quarter. Swiss National Bank now owns 81,500 shares of the biotechnology company’s stock worth $1,717,000 after purchasing an additional 3,500 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in REGENXBIO in the first quarter valued at about $2,172,000. Finally, Headlands Technologies LLC lifted its position in REGENXBIO by 276.8% during the first quarter. Headlands Technologies LLC now owns 3,828 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 2,812 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.