Regulus Therapeutics (NASDAQ:RGLS) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Regulus Therapeutics Inc. (NASDAQ:RGLS) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.83 and traded as high as $8.35. Regulus Therapeutics shares last traded at $8.30, with a volume of 1,483,526 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Leerink Partners restated a “market perform” rating and set a $7.00 price objective on shares of Regulus Therapeutics in a research note on Wednesday, April 30th. Leerink Partnrs downgraded shares of Regulus Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Regulus Therapeutics in a research report on Friday, March 14th. Canaccord Genuity Group reiterated a “hold” rating and set a $11.00 price objective (down previously from $28.00) on shares of Regulus Therapeutics in a research note on Wednesday, April 30th. Finally, Jones Trading reissued a “hold” rating and issued a $7.00 target price (down previously from $8.00) on shares of Regulus Therapeutics in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.50.

Regulus Therapeutics Trading Up 1.0%

The firm’s 50-day simple moving average is $5.48 and its 200 day simple moving average is $2.83. The stock has a market cap of $574.64 million, a P/E ratio of -7.76 and a beta of 0.35.

Regulus Therapeutics (NASDAQ:RGLS) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.14. On average, analysts anticipate that Regulus Therapeutics Inc. will post -0.88 EPS for the current year.

Insiders Place Their Bets

In other Regulus Therapeutics news, insider Preston Klassen acquired 12,000 shares of Regulus Therapeutics stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average price of $7.99 per share, for a total transaction of $95,880.00. Following the transaction, the insider now owns 48,055 shares in the company, valued at approximately $383,959.45. This trade represents a 33.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regulus Therapeutics

A number of large investors have recently made changes to their positions in RGLS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Regulus Therapeutics by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,345 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 1,644 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Regulus Therapeutics in the 1st quarter valued at approximately $96,000. PEAK6 LLC acquired a new stake in Regulus Therapeutics during the fourth quarter worth $95,000. AQR Capital Management LLC acquired a new position in Regulus Therapeutics in the first quarter worth about $120,000. Finally, Velan Capital Investment Management LP bought a new stake in Regulus Therapeutics in the fourth quarter valued at $111,000. Institutional investors and hedge funds own 92.38% of the company’s stock.

Regulus Therapeutics Company Profile

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.