Regulus Therapeutics (NASDAQ:RGLS) Sees Large Volume Increase on Insider Buying Activity

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report) saw strong trading volume on Thursday following insider buying activity. 1,111,494 shares traded hands during mid-day trading, an increase of 22% from the previous session's volume of 912,674 shares.The stock last traded at $7.99 and had previously closed at $7.95.

Specifically, insider Preston Klassen bought 12,000 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now owns 48,055 shares in the company, valued at approximately $383,959.45. The trade was a 33.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jones Trading restated a "hold" rating and set a $7.00 target price (down previously from $8.00) on shares of Regulus Therapeutics in a research report on Wednesday, April 30th. Canaccord Genuity Group reissued a "hold" rating and issued a $11.00 price objective (down previously from $28.00) on shares of Regulus Therapeutics in a research report on Wednesday, April 30th. Leerink Partners reissued a "market perform" rating and issued a $7.00 price objective on shares of Regulus Therapeutics in a research report on Wednesday, April 30th. HC Wainwright reissued a "buy" rating and issued a $10.00 price objective on shares of Regulus Therapeutics in a research report on Friday, March 14th. Finally, Leerink Partnrs lowered shares of Regulus Therapeutics from a "strong-buy" rating to a "hold" rating in a research 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 issued a buy rating to the company. According to data from MarketBeat, Regulus Therapeutics has a consensus rating of "Hold" and a consensus price target of $8.50.

Regulus Therapeutics Stock Up 1.9%

The business's fifty day moving average is $5.23 and its 200-day moving average is $2.72. The stock has a market capitalization of $560.80 million, a PE ratio of -7.57 and a beta of 0.35.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.14. As a group, sell-side analysts anticipate that Regulus Therapeutics Inc. will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Regulus Therapeutics

Several institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in Regulus Therapeutics by 23.1% during the first quarter. Federated Hermes Inc. now owns 15,819,863 shares of the biopharmaceutical company's stock worth $27,685,000 after buying an additional 2,967,209 shares during the period. Octagon Capital Advisors LP grew its stake in Regulus Therapeutics by 13.7% during the fourth quarter. Octagon Capital Advisors LP now owns 4,848,802 shares of the biopharmaceutical company's stock worth $7,661,000 after buying an additional 585,101 shares during the period. Baker BROS. Advisors LP purchased a new stake in Regulus Therapeutics during the first quarter worth approximately $4,715,000. Millennium Management LLC grew its stake 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 worth $3,464,000 after buying an additional 900,743 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in Regulus Therapeutics during the first quarter worth approximately $1,677,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.

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.