Short Interest in Regulus Therapeutics Inc. (NASDAQ:RGLS) Drops By 29.5%

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,910,000 shares, a decrease of 29.5% from the April 30th total of 2,710,000 shares. Based on an average trading volume of 1,890,000 shares, the days-to-cover ratio is presently 1.0 days. Currently, 3.3% of the company's shares are short sold.

Regulus Therapeutics Stock Performance

NASDAQ:RGLS traded up $0.05 during mid-day trading on Tuesday, hitting $7.99. 180,244 shares of the stock were exchanged, compared to its average volume of 906,270. The stock has a market capitalization of $553.18 million, a price-to-earnings ratio of -7.47 and a beta of 0.49. The firm's 50-day simple moving average is $4.85 and its 200 day simple moving average is $2.60. Regulus Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $8.20.

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

Institutional Trading of Regulus Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its holdings in shares of Regulus Therapeutics by 23.1% in the first quarter. Federated Hermes Inc. now owns 15,819,863 shares of the biopharmaceutical company's stock worth $27,685,000 after acquiring an additional 2,967,209 shares during the period. Octagon Capital Advisors LP boosted its position in 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 acquiring an additional 585,101 shares in the last quarter. Baker BROS. Advisors LP purchased a new stake in shares of Regulus Therapeutics in the 1st quarter worth approximately $4,715,000. Millennium Management LLC lifted its position in Regulus Therapeutics by 69.7% in the 4th 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 in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Regulus Therapeutics during the 1st quarter valued at $1,677,000. 92.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company restated an "equal weight" rating and issued a $9.00 price target on shares of Regulus Therapeutics in a report on Thursday, May 1st. HC Wainwright reissued a "buy" rating and set a $10.00 price target on shares of Regulus Therapeutics in a report 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 research note 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, Canaccord Genuity Group restated a "hold" rating and set a $11.00 price objective (down previously from $28.00) 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.