Regulus Therapeutics (NASDAQ:RGLS) Shares Cross Above 200-Day Moving Average – What’s Next?

Regulus Therapeutics Inc. (NASDAQ:RGLS)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.46 and traded as high as $1.95. Regulus Therapeutics shares last traded at $1.80, with a volume of 779,048 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company raised shares of Regulus Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $3.00 to $6.00 in a research report on Thursday, March 27th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Regulus Therapeutics in a report on Friday, March 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $28.00 target price on shares of Regulus Therapeutics in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.75.

Regulus Therapeutics Stock Performance

The stock has a market cap of $111.62 million, a PE ratio of -1.57 and a beta of 1.42. The firm’s 50-day moving average is $1.34 and its 200 day moving average is $1.46.

Regulus Therapeutics (NASDAQ:RGLS) last announced its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). During the same quarter last year, the company posted ($0.40) EPS. On average, sell-side analysts predict that Regulus Therapeutics Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity

In related news, CEO Joseph P. Hagan sold 115,290 shares of Regulus Therapeutics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $1.26, for a total value of $145,265.40. Following the transaction, the chief executive officer now directly owns 222,572 shares in the company, valued at $280,440.72. This trade represents a 34.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Preston Klassen sold 31,445 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $1.26, for a total transaction of $39,620.70. Following the transaction, the insider now owns 36,055 shares of the company’s stock, valued at approximately $45,429.30. The trade was a 46.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,998 shares of company stock valued at $282,237. Company insiders own 4.35% of the company’s stock.

Hedge Funds Weigh In On Regulus Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Velan Capital Investment Management LP acquired a new stake in shares of Regulus Therapeutics in the 4th quarter valued at approximately $111,000. Octagon Capital Advisors LP lifted its holdings in Regulus Therapeutics by 13.7% in the fourth quarter. Octagon Capital Advisors LP now owns 4,848,802 shares of the biopharmaceutical company’s stock valued at $7,661,000 after acquiring an additional 585,101 shares during the period. Millennium Management LLC lifted its holdings in Regulus Therapeutics by 69.7% in the fourth quarter. Millennium Management LLC now owns 2,192,158 shares of the biopharmaceutical company’s stock valued at $3,464,000 after acquiring an additional 900,743 shares during the period. PEAK6 LLC purchased a new stake in shares of Regulus Therapeutics during the 4th quarter worth $95,000. Finally, Barclays PLC grew its stake in shares of Regulus Therapeutics by 13.9% during the 4th quarter. Barclays PLC now owns 96,247 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 11,770 shares during the period. Institutional investors and hedge funds own 92.38% of the company’s stock.

About Regulus Therapeutics

Regulus Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on discovery and development of drugs that targets microRNAs to treat a range of diseases in the United States. Its product candidates include RGLS8429, an anti-miR next generation oligonucleotide targeting miR-17, which is in Phase 1b clinical trial for the treatment of autosomal dominant polycystic kidney disease.