TRex Bio (NASDAQ:TRXB) Issues Quarterly Earnings Results

TRex Bio (NASDAQ:TRXB) announced its earnings results on Friday. The company reported ($10.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($9.37), Zacks reports.

TRex Bio Price Performance

TRXB traded down $0.43 during trading on Friday, hitting $13.67. The company’s stock had a trading volume of 62,668 shares, compared to its average volume of 106,799. TRex Bio has a twelve month low of $12.50 and a twelve month high of $16.56.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TRXB shares. JPMorgan Chase & Co. started coverage on shares of TRex Bio in a report on Tuesday, November 3rd. They issued an “overweight” rating and a $20.00 price target on the stock. Cantor Fitzgerald assumed coverage on shares of TRex Bio in a research note on Tuesday, November 3rd. They set an “overweight” rating for the company. Wedbush started coverage on shares of TRex Bio in a research note on Monday, November 2nd. They set an “outperform” rating and a $30.00 price objective for the company. Zacks Research initiated coverage on shares of TRex Bio in a report on Tuesday, November 3rd. They issued a “hold” rating on the stock. Finally, Evercore initiated coverage on shares of TRex Bio in a research report on Tuesday, November 3rd. They set a “strong-buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, TRex Bio currently has an average rating of “Buy” and an average target price of $29.67.

Insider Activity

In related news, major shareholder Alexandria Venture Investments purchased 178,571 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The shares were purchased at an average price of $14.00 per share, with a total value of $2,499,994.00. Following the purchase, the insider owned 1,346,501 shares of the company’s stock, valued at $18,851,014. The trade was a 15.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

About TRex Bio

We are a clinical-stage biopharmaceutical company focused on tissue Treg biology for the discovery and development of immunoregulatory medicines designed to restore immune balance and promote tissue repair to address unmet needs of patients with autoimmune and inflammatory diseases. TRexBio was built on a pivotal scientific insight: that regulatory T cells (“Tregs”) in human tissue are not merely passive suppressors of inflammation, but active orchestrators of tissue immune homeostasis and repair.