Leerink Partnrs Predicts REGENXBIO FY2029 Earnings

REGENXBIO Inc. (NASDAQ:RGNX) – Analysts at Leerink Partnrs issued their FY2029 earnings estimates for REGENXBIO in a report released on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar anticipates that the biotechnology company will post earnings of $0.46 per share for the year. The consensus estimate for REGENXBIO’s current full-year earnings is ($4.87) per share.

Other equities research analysts have also issued research reports about the stock. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research note on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a research note on Wednesday, January 15th. Raymond James reissued an “outperform” rating and set a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. Morgan Stanley reissued an “overweight” rating and set a $22.00 price objective on shares of REGENXBIO in a research note on Friday, November 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of REGENXBIO in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.82.

REGENXBIO Price Performance

Shares of NASDAQ RGNX opened at $7.95 on Thursday. REGENXBIO has a 1 year low of $6.56 and a 1 year high of $28.80. The company’s 50-day moving average is $8.52 and its 200 day moving average is $10.42. The stock has a market capitalization of $393.84 million, a P/E ratio of -1.58 and a beta of 1.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGNX. Redmile Group LLC lifted its position in REGENXBIO by 7.1% during the third quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock valued at $51,327,000 after purchasing an additional 323,100 shares during the period. Assenagon Asset Management S.A. lifted its position in REGENXBIO by 53.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock valued at $6,621,000 after purchasing an additional 296,700 shares during the period. Millennium Management LLC lifted its position 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 during the period. 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 period. Finally, Cubist Systematic Strategies LLC lifted its position in REGENXBIO by 73.4% during the second quarter. Cubist Systematic Strategies LLC now owns 188,235 shares of the biotechnology company’s stock valued at $2,202,000 after purchasing an additional 79,655 shares during the period. Institutional investors own 88.08% 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.