Millennium Management LLC Acquires 900,743 Shares of Regulus Therapeutics Inc. (NASDAQ:RGLS)

Millennium Management LLC grew its position in shares of Regulus Therapeutics Inc. (NASDAQ:RGLS - Free Report) by 69.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,192,158 shares of the biopharmaceutical company's stock after acquiring an additional 900,743 shares during the quarter. Millennium Management LLC owned about 3.35% of Regulus Therapeutics worth $3,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PEAK6 LLC acquired a new stake in shares of Regulus Therapeutics in the fourth quarter valued at about $95,000. JPMorgan Chase & Co. grew its stake in shares of Regulus Therapeutics by 193.4% in the third quarter. JPMorgan Chase & Co. now owns 78,972 shares of the biopharmaceutical company's stock valued at $124,000 after buying an additional 52,059 shares in the last quarter. Barclays PLC grew its stake in shares of Regulus Therapeutics by 13.9% in the fourth quarter. Barclays PLC now owns 96,247 shares of the biopharmaceutical company's stock valued at $152,000 after buying an additional 11,770 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Regulus Therapeutics by 20.5% in the fourth quarter. Renaissance Technologies LLC now owns 117,100 shares of the biopharmaceutical company's stock valued at $185,000 after buying an additional 19,900 shares in the last quarter. 92.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regulus Therapeutics

In other news, insider Preston Klassen bought 12,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average price of $7.99 per share, for a total transaction of $95,880.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 4.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RGLS. Wells Fargo & Company restated an "equal weight" rating and set a $9.00 price objective on shares of Regulus Therapeutics in a research note on Thursday, May 1st. HC Wainwright restated a "buy" rating and set a $10.00 price objective on shares of Regulus Therapeutics in a research note on Friday, March 14th. Leerink Partners reaffirmed a "market perform" rating and set a $7.00 target price on shares of Regulus Therapeutics in a report on Wednesday, April 30th. Leerink Partnrs downgraded Regulus Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Jones Trading reaffirmed a "hold" rating and set a $7.00 target price (down previously from $8.00) on shares of Regulus Therapeutics in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.50.

Regulus Therapeutics Stock Performance

Shares of RGLS stock traded down $0.02 during trading hours on Wednesday, hitting $7.95. The company had a trading volume of 686,079 shares, compared to its average volume of 911,835. Regulus Therapeutics Inc. has a 12 month low of $0.83 and a 12 month high of $8.20. The firm has a market capitalization of $550.41 million, a price-to-earnings ratio of -7.43 and a beta of 0.49. The firm's fifty day moving average is $4.98 and its 200 day moving average is $2.64.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.14. On average, sell-side analysts expect that Regulus Therapeutics Inc. will post -0.88 EPS for the current fiscal year.

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.