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Regenxbio (RGNX) Surges 18.3%: Is This an Indication of Further Gains?
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Regenxbio (RGNX - Free Report) shares rallied 18.3% in the last trading session to close at $12.71. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 18.3% loss over the past four weeks.
Last month, the company completed a successful pre-biologics license application (BLA) meeting with the FDA for its pipeline candidate, RGX-121, being developed for the treatment of Mucopolysaccharidosis Type II (MPS II). The company expects to initiate a rolling BLA submission for RGX-121 later in the third quarter of 2024. This might have driven the share price rally.
This biotechnology company is expected to post quarterly loss of $1.29 per share in its upcoming report, which represents a year-over-year change of +22.3%. Revenues are expected to be $21.73 million, up 8.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Regenxbio, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RGNX going forward to see if this recent jump can turn into more strength down the road.
Regenxbio is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Cellectis S.A. (CLLS - Free Report) , finished the last trading session 2.6% higher at $2. CLLS has returned -19.4% over the past month.
For Cellectis, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.33. This represents a change of -135.7% from what the company reported a year ago. Cellectis currently has a Zacks Rank of #2 (Buy).
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Regenxbio (RGNX) Surges 18.3%: Is This an Indication of Further Gains?
Regenxbio (RGNX - Free Report) shares rallied 18.3% in the last trading session to close at $12.71. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 18.3% loss over the past four weeks.
Last month, the company completed a successful pre-biologics license application (BLA) meeting with the FDA for its pipeline candidate, RGX-121, being developed for the treatment of Mucopolysaccharidosis Type II (MPS II). The company expects to initiate a rolling BLA submission for RGX-121 later in the third quarter of 2024. This might have driven the share price rally.
This biotechnology company is expected to post quarterly loss of $1.29 per share in its upcoming report, which represents a year-over-year change of +22.3%. Revenues are expected to be $21.73 million, up 8.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Regenxbio, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RGNX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Regenxbio is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Cellectis S.A. (CLLS - Free Report) , finished the last trading session 2.6% higher at $2. CLLS has returned -19.4% over the past month.
For Cellectis, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.33. This represents a change of -135.7% from what the company reported a year ago. Cellectis currently has a Zacks Rank of #2 (Buy).