Regulus Therapeutics Inc. (NASDAQ:RGLS) Sees Large Drop in Short Interest

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 2,110,000 shares, a decline of 20.7% from the March 31st total of 2,660,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 4.0% of the shares of the stock are sold short.

Regulus Therapeutics Stock Performance

RGLS traded up $0.02 during midday trading on Wednesday, hitting $7.85. The company had a trading volume of 301,123 shares, compared to its average volume of 870,092. The firm's 50-day simple moving average is $2.37 and its 200-day simple moving average is $1.75. The company has a market capitalization of $519.68 million, a PE ratio of -7.33 and a beta of 0.49. Regulus Therapeutics has a twelve month low of $0.83 and a twelve month high of $8.20.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last posted its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). During the same period last year, the company posted ($0.40) earnings per share. As a group, sell-side analysts anticipate that Regulus Therapeutics will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its holdings in shares of Regulus Therapeutics by 69.7% in the 4th quarter. Millennium Management LLC now owns 2,192,158 shares of the biopharmaceutical company's stock worth $3,464,000 after purchasing an additional 900,743 shares in the last quarter. Octagon Capital Advisors LP raised its position in shares of Regulus Therapeutics by 13.7% during the 4th quarter. Octagon Capital Advisors LP now owns 4,848,802 shares of the biopharmaceutical company's stock valued at $7,661,000 after buying an additional 585,101 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Regulus Therapeutics by 141.2% during the fourth quarter. JPMorgan Chase & Co. now owns 190,457 shares of the biopharmaceutical company's stock valued at $301,000 after buying an additional 111,485 shares during the last quarter. Velan Capital Investment Management LP bought a new position in shares of Regulus Therapeutics during the fourth quarter valued at approximately $111,000. Finally, Barclays PLC lifted its holdings in shares of Regulus Therapeutics by 285.2% during the third quarter. Barclays PLC now owns 84,477 shares of the biopharmaceutical company's stock valued at $132,000 after purchasing an additional 62,549 shares during the last quarter. 92.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RGLS. Leerink Partners restated a "market perform" rating and set a $7.00 price target on shares of Regulus Therapeutics in a research note on Wednesday, April 30th. HC Wainwright restated a "buy" rating and set a $10.00 price objective on shares of Regulus Therapeutics in a research report on Friday, March 14th. Wells Fargo & Company reissued an "equal weight" rating and issued a $9.00 price target on shares of Regulus Therapeutics in a research note on Thursday, May 1st. Canaccord Genuity Group reaffirmed a "hold" rating and set a $11.00 target price (down from $28.00) on shares of Regulus Therapeutics in a report on Wednesday, April 30th. Finally, Jones Trading restated a "hold" rating and set a $7.00 price objective (down previously from $8.00) on shares of Regulus Therapeutics in a report on Wednesday, April 30th. One investment 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 currently has an average rating of "Hold" and an average target price of $8.50.

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.