Regenxbio (RGNX) Soars 6.4%: Is Further Upside Left in the Stock?

Company Overview - Regenxbio (RGNX) shares increased by 6.4% to $12.79 in the last trading session, following a significant trading volume, contrasting with a 19.4% decline over the past four weeks [1] Recent Developments - The company successfully completed a pre-biologics license application (BLA) meeting with the FDA for its candidate RGX-121, aimed at treating Mucopolysaccharidosis Type II (MPS II), and plans to initiate a rolling BLA submission in Q3 2024, which may have contributed to the recent share price increase [2] Financial Expectations - Regenxbio is projected to report a quarterly loss of $1.29 per share, reflecting a year-over-year increase of 22.3%, with expected revenues of $21.73 million, an 8.8% rise from the previous year [3] - The consensus EPS estimate for the upcoming quarter has been revised down by 2.7% over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] Industry Context - Regenxbio operates within the Zacks Medical - Biomedical and Genetics industry, where ProQR (PRQR) also resides, having closed 3.5% lower at $1.65, with a -9% return over the past month [4] - ProQR's consensus EPS estimate remains unchanged at -$0.12, representing a 9.1% decline compared to the previous year's EPS, and it also holds a Zacks Rank of 3 (Hold) [5]