Regulus Therapeutics (NASDAQ:RGLS) Sees Unusually-High Trading Volume - Here's What Happened

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 3,258,628 shares traded hands during trading, an increase of 238% from the previous session's volume of 962,819 shares.The stock last traded at $8.00 and had previously closed at $8.21.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Canaccord Genuity Group reiterated a "hold" rating and issued a $11.00 price target (down previously from $28.00) on shares of Regulus Therapeutics in a research report on Wednesday, April 30th. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Regulus Therapeutics in a research note on Friday, March 14th. Jones Trading reiterated a "hold" rating and issued a $7.00 target price (down previously from $8.00) on shares of Regulus Therapeutics in a report on Wednesday, April 30th. Leerink Partners reissued a "market perform" rating and set a $7.00 target price on shares of Regulus Therapeutics in a research report on Wednesday, April 30th. Finally, Leerink Partnrs downgraded 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Regulus Therapeutics currently has a consensus rating of "Hold" and an average price target of $8.50.

Regulus Therapeutics Stock Up 3.3%

The business has a 50 day moving average price of $6.77 and a 200 day moving average price of $3.29. The stock has a market cap of $563.53 million, a P/E ratio of -11.15 and a beta of 0.35.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last posted its quarterly earnings data 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. On average, research analysts expect that Regulus Therapeutics Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Preston Klassen bought 12,000 shares of Regulus Therapeutics stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average cost of $7.99 per share, with a total value of $95,880.00. Following the completion of the transaction, the insider now owns 48,055 shares in the company, valued at $383,959.45. The trade was a 33.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.35% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Regulus Therapeutics by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,345 shares of the biopharmaceutical company's stock worth $67,000 after buying an additional 1,644 shares during the period. AQR Capital Management LLC bought a new stake in shares of Regulus Therapeutics in the first quarter valued at about $120,000. Baker BROS. Advisors LP bought a new stake in shares of Regulus Therapeutics in the first quarter valued at about $4,715,000. Velan Capital Investment Management LP lifted its stake in Regulus Therapeutics by 14.3% in the first quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biopharmaceutical company's stock worth $140,000 after acquiring an additional 10,000 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Regulus Therapeutics during the 1st quarter worth about $1,677,000. 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.