Regulus Therapeutics (NASDAQ:RGLS) Sees Unusually-High Trading Volume on Insider Buying Activity

Shares of Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report) saw an uptick in trading volume on Thursday after an insider bought additional shares in the company. 1,111,494 shares were traded during 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 dated 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 purchase, the insider now owns 48,055 shares in the company, valued at $383,959.45. This represents a 33.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

RGLS has been the subject of a number of recent research reports. Wells Fargo & Company restated an "equal weight" rating and set a $9.00 price target on shares of Regulus Therapeutics in a research note on Thursday, May 1st. Leerink Partners reaffirmed a "market perform" rating and set a $7.00 price objective on shares of Regulus Therapeutics in a report on Wednesday, April 30th. Wall Street Zen began coverage on shares of Regulus Therapeutics in a research report on Sunday, May 18th. They issued a "sell" rating on the stock. HC Wainwright reiterated a "buy" rating and set a $10.00 price target on shares of Regulus Therapeutics in a research report on Friday, March 14th. Finally, Leerink Partnrs cut shares of Regulus Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. One equities 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $8.50.

Regulus Therapeutics Stock Performance

The stock has a market capitalization of $569.10 million, a PE ratio of -7.68 and a beta of 0.35. The stock has a 50-day moving average price of $5.36 and a two-hundred day moving average price of $2.79.

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

Institutional Trading of Regulus Therapeutics

Several hedge funds have recently modified their holdings of RGLS. Federated Hermes Inc. lifted its position in shares of Regulus Therapeutics by 23.1% during the 1st quarter. Federated Hermes Inc. now owns 15,819,863 shares of the biopharmaceutical company's stock valued at $27,685,000 after buying an additional 2,967,209 shares in the last quarter. Octagon Capital Advisors LP lifted 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 purchasing an additional 585,101 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in Regulus Therapeutics in the first quarter valued at approximately $4,715,000. Millennium Management LLC lifted its stake in Regulus Therapeutics by 69.7% in 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 during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in Regulus Therapeutics in the first quarter valued at approximately $1,677,000. 92.38% of the stock is 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.