One-glance verdict
Undervalued
$50.65 our estimate vs market $7.69
Wall Street consensus: $24.00 (-52.6% lower than our fair-value estimate)
85% below our estimate, below the bear case
Fundamentals snapshot
REGENXBIO Inc.
RGNX · NMS · Healthcare · Biotechnology
Current price
$7.69
52-week range
$5.46 - $16.19
Market cap
$508.48M
Balance sheet
Distressed
-3.58x Concerning
Net debt $1.25M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Free cash flow was positive in 2/10 years.
- Risk Operating margin compressed from -233.2% to -802.9% over 3 years.
- Risk Return on equity was -113.2% last year — the company lost money on shareholders' equity.
What this company does
REGENXBIO Inc.
REGENXBIO is a company developing treatments that aim to fix genetic diseases by delivering working genes into a person's cells using a special delivery system it created. The money it makes primarily comes from licensing this technology and from collaborations with larger drug companies, which is important because it shows other companies believe in their technology's potential. This approach helps REGENXBIO fund its own research into new gene therapies for conditions like eye diseases and muscular dystrophy.
How the company got here
REGENXBIO Inc. was founded in 2008, built around a pioneering technology called the NAV Technology Platform. [18] This platform uses adeno-associated virus (AAV) vectors, which are like tiny delivery trucks for genes, to deliver healthy genes into cells. [2, 5] The company's early strategy involved both developing its own gene therapies and licensing its NAV technology to other companies, allowing it to grow and reach a wider market. [18] REGENXBIO has been instrumental in the advancement of AAV gene therapy, with its technology contributing to treatments that have been used in thousands of patients. [4, 8]
What it actually does
REGENXBIO is a biotechnology company focused on creating gene therapies. [12] Gene therapy is a medical approach that aims to treat or cure diseases by delivering genetic material into a patient's cells. [5] REGENXBIO's therapies are designed to either replace a faulty gene that causes a disease or to instruct cells to produce a therapeutic protein that the body needs. [5, 16] These treatments are often intended as one-time administrations that can provide long-lasting effects, potentially altering the course of chronic or rare diseases. [4, 5]
NAV Technology Platform
The NAV Technology Platform is the core of REGENXBIO's work. [1, 2] It's a collection of over 100 different types of AAV vectors, which are specialized viral delivery vehicles designed to carry genetic material into specific cells within the body. [1, 5] Think of these vectors like different types of trucks, each optimized to reach a particular destination, whether it's the liver, the brain, or the eye. [5] This platform allows REGENXBIO to develop gene therapies for a range of diseases by providing a versatile and effective way to deliver therapeutic genes. [2, 3] The company also licenses this technology to other biotechnology firms, generating revenue and expanding the reach of its innovations. [3, 6]
ABBV-RGX-314 for Retinal Diseases
This is a gene therapy candidate being developed in collaboration with AbbVie to treat eye conditions like wet age-related macular degeneration (AMD) and diabetic retinopathy. [3, 14] These are diseases where abnormal blood vessel growth in the eye leads to vision loss. [14] ABBV-RGX-314 uses a specific AAV vector from REGENXBIO's NAV platform to deliver a gene that produces a protein designed to inhibit the growth of these problematic blood vessels. [3, 14] The goal is to provide a one-time treatment that can halt or reverse vision loss caused by these conditions. [3, 14] This program represents a significant part of REGENXBIO's efforts in the retinal disease area. [3]
RGX-121 and RGX-111 for Rare Diseases
REGENXBIO is developing RGX-121 and RGX-111 as gene therapies for rare metabolic disorders called mucopolysaccharidoses (MPS), specifically MPS II (Hunter syndrome) and MPS I (Hurler syndrome), respectively. [3, 10] These are genetic conditions where the body can't properly break down certain substances, leading to a buildup that causes various health problems, particularly affecting the brain and development. [7, 13] These therapies are designed to deliver a functional gene to the central nervous system to help the body produce the necessary enzymes to process these substances. [3, 13] REGENXBIO is partnering with Nippon Shinyaku to develop and commercialize these treatments, which are aimed at providing a one-time intervention for these debilitating diseases. [7, 10]
RGX-202 for Duchenne Muscular Dystrophy
This program focuses on developing a gene therapy for Duchenne muscular dystrophy (DMD), a rare genetic disorder that causes progressive muscle degeneration and weakness. [3, 6] RGX-202 aims to deliver a gene that helps muscles function properly, potentially slowing or reversing the effects of DMD. [3, 9] This therapy is part of REGENXBIO's internal pipeline targeting rare pediatric diseases and represents an effort to address a significant unmet medical need in neuromuscular disorders. [6, 12]
What management is betting on now
REGENXBIO's current strategy centers on advancing its late-stage pipeline of gene therapies for rare and retinal diseases. [8, 15] The company is focused on bringing its most promising candidates, like ABBV-RGX-314 for eye conditions and RGX-121/RGX-111 for rare metabolic disorders, closer to potential regulatory approval and commercialization. [7, 14] They are also strategically partnering with other companies, such as AbbVie and Nippon Shinyaku, to help fund development and expand the reach of their therapies globally. [6, 7] This approach allows REGENXBIO to leverage its expertise in gene therapy while sharing the risks and rewards of bringing these complex medicines to patients. [7, 18]
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-32.70M
FY2025 Q1
$32.60M
FY2025 Q2
$-49.73M
FY2025 Q3
$-56.45M
FY2025 Q4
$-52.80M
FY2026 Q1
$-77.42M
FY2026 Q2
$-63.00M
FY2026 Q3
$38.41M
Revenue
$9.16M
Net income
$-40.74M
Diluted EPS
-0.62
Operating cash flow
$38.61M
Free cash flow
$38.41M
Fetching…
Sources
Revenue
$108.02M
Net income
$22.71M
Diluted EPS
0.43
Operating cash flow
$-62.24M
Free cash flow
$-63.00M
Fetching…
Sources
Revenue
$6.39M
Net income
$-90.05M
Diluted EPS
-1.72
Operating cash flow
$-76.19M
Free cash flow
$-77.42M
Fetching…
Sources
Revenue
$30.34M
Net income
$-67.15M
Diluted EPS
-1.30
Operating cash flow
$-52.29M
Free cash flow
$-52.80M
Fetching…
Sources
Revenue
$29.73M
Net income
$-61.94M
Diluted EPS
-1.20
Operating cash flow
$-55.96M
Free cash flow
$-56.45M
Fetching…
Sources
Revenue
$21.36M
Net income
$-70.87M
Diluted EPS
-1.38
Operating cash flow
$-49.34M
Free cash flow
$-49.73M
Fetching…
Sources
Revenue
$89.01M
Net income
$6.08M
Diluted EPS
0.12
Operating cash flow
$33.63M
Free cash flow
$32.60M
Fetching…
Sources
Revenue
$21.21M
Net income
$-51.19M
Diluted EPS
-0.99
Operating cash flow
$-31.62M
Free cash flow
$-32.70M
Fetching…
Sources
Is it cheap or expensive?
Fair value $50.65 vs current price $7.69
Wall Street consensus is the average analyst price target: $24.00 (-52.6% lower than our fair-value estimate).
Our most-likely fair value is $50.65 a share — about 558.7% above today's price of $7.69, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Distressed
Net debt $1.2M. Interest coverage -3.6x.
Net debt
$1.25M
Interest coverage
-3.58x
REGENXBIO Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
RGNX
BASELINE
REGENXBIO Inc.
Total debt $252.22M Interest coverage -3.58x This is the baseline the peer rows are being compared against.
Total debt $1.08B Interest coverage -17.25x Neither company has much profit cushion over interest right now.
Total debt $230.14M Interest coverage -15.10x Neither company has much profit cushion over interest right now.
What you should know
The case for and against RGNX
1 Reward
2 Risks
Rewards
-
Free cash flow was positive in 2/10 years.
Risks
-
Operating margin compressed from -233.2% to -802.9% over 3 years.
-
Return on equity was -113.2% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-2.56x
P/B
3.43x
P/S
3.30x
EV/EBITDA
-2.99x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
-64.5%
Operating margin
-802.9%
Net margin
-113.9%
ROE
-113.2%
ROA
-23.4%
Health
Liquidity and balance-sheet strength
Debt / equity
1.70x
Current ratio
4.74x
Quick ratio
3.96x
Total debt
$252.22M
Total cash
$250.98M
Growth
How the business has been compounding
Revenue TTM
$153.91M
Revenue 5Y CAGR
-22.4%
EPS TTM
-3.20
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-152.10M
Free CF TTM
$-126.38M
FCF margin
-82.1%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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