REGENXBIO Inc. (RGNX) Stock

REGENXBIO Inc. (RGNX) is a Healthcare stock trading at $10.71 (as of 2026-08-21), with a market capitalization of $571.26M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

REGENXBIO Inc. is a clinical-stage biotechnology company developing gene therapy candidates designed to deliver therapeutic genes or enable cells to produce disease-relevant proteins or antibodies. Its products are based on its NAV technology platform, including RGX-314 in Phase III for wet age-related macular degeneration and additional programs in earlier clinical and preclinical stages, and it also licenses the platform to other biotechnology and pharmaceutical companies.

Understand REGENXBIO Inc.: how it makes money

REGENXBIO develops gene therapy product candidates using its NAV Technology Platform (an adeno-associated virus gene delivery platform), and it earns revenue from Zolgensma royalties, license and royalty income, and development service revenue.

The company’s near-term profit engine relies on small royalty and licensing-related revenue streams, while the latest quarter shows a very large negative operating margin.

Revenue by segment (latest quarter)
Zolgensma Royalties	$0.0B
Licenses & Royalties	$0.0B
Dev Services	$0.0B
Services	$0.0B

Business quality (Weak): Data is directionally useful (segment revenue lines and an operating margin are provided), but there is a mismatch in scale because reported total revenue is 0.0B while segment revenue candidates sum to 0.04B after rounding.

Bull case

Phase III clinical progress in a defined lead asset: RGX-314 is in Phase III clinical trial for the treatment of wet age-related macular degeneration.
Revenue exists today, including royalty income: The revenue mix includes Zolgensma Royalalties Revenue (0.02B) plus License and Royalty Revenue (0.01B).
Multiple development programs with measurable operating readouts: Operational KPI candidates include specific biomarker and trial-related metrics (for example, microdystrophin expression and planned enrollment counts).

Bear case

Loss-making economics in the latest quarter: Operating margin for the quarter ended 2026-03-31 is -1304.0%, indicating operating losses relative to revenue.
Revenue appears small and concentrated in royalty and licensing lines: The provided segment revenue candidates are primarily Zolgensma royalties, license and royalty revenue, and development services, with limited Service Revenue (0.0B).
Clinical-stage execution risk remains central: The company is described as clinical-stage, and the lead candidate is still in Phase III, which can face adverse outcomes or delays.

Valuation — source: SEC EDGAR (first-party)
Price	$10.71
Market Cap	$571.26M
Price / Book	27.10
Price / Sales	6.50
FCF Yield	-41.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$170.44M
Net Margin	-113.8%
Revenue Growth (YoY)	-92.8%
EPS Growth (YoY)	-1533.3%
FCF Growth (YoY)	-337.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	-2.87 (distress)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.6
Industry P/E (Pharmaceutical Products)	17.2

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($48.59M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Curran Simpson
Employees	353
Country	US
IPO Date	2015-09-17

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.