Regulus Therapeutics (NASDAQ:RGLS) Downgraded by Wells Fargo & Company to Hold

Wells Fargo & Company downgraded shares of Regulus Therapeutics (NASDAQ:RGLS - Free Report) from a strong-buy rating to a hold rating in a research report report published on Wednesday, April 30th,Zacks.com reports.

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

Regulus Therapeutics Price Performance

Shares of Regulus Therapeutics stock traded up $0.02 on Wednesday, hitting $7.85. The company had a trading volume of 301,123 shares, compared to its average volume of 870,092. Regulus Therapeutics has a 52 week low of $0.83 and a 52 week high of $8.20. The company has a market cap of $519.68 million, a PE ratio of -7.33 and a beta of 0.49. The business has a 50-day simple moving average of $2.37 and a 200-day simple moving average of $1.75.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). During the same period last year, the business posted ($0.40) earnings per share. On average, equities research analysts predict that Regulus Therapeutics will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Regulus Therapeutics by 69.7% during the fourth quarter. Millennium Management LLC now owns 2,192,158 shares of the biopharmaceutical company's stock valued at $3,464,000 after buying an additional 900,743 shares in the last quarter. Octagon Capital Advisors LP raised its stake in shares of Regulus Therapeutics by 13.7% in 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. JPMorgan Chase & Co. lifted its holdings in Regulus Therapeutics by 141.2% in the 4th quarter. JPMorgan Chase & Co. now owns 190,457 shares of the biopharmaceutical company's stock worth $301,000 after purchasing an additional 111,485 shares during the last quarter. Velan Capital Investment Management LP bought a new stake in Regulus Therapeutics during the fourth quarter worth approximately $111,000. Finally, Barclays PLC grew its holdings in 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. Institutional investors 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.