Regulus Therapeutics (NASDAQ:RGLS) Stock Crosses Above 200 Day Moving Average - Here's Why

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.52 and traded as high as $3.60. Regulus Therapeutics shares last traded at $3.37, with a volume of 2,201,107 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on RGLS. Leerink Partnrs downgraded Regulus Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $9.00 target price on shares of Regulus Therapeutics in a report on Thursday. Jones Trading reiterated a "hold" rating and set a $7.00 target price (down from $8.00) on shares of Regulus Therapeutics in a research note on Wednesday. HC Wainwright restated a "buy" rating and set a $10.00 price objective on shares of Regulus Therapeutics in a research report on Friday, March 14th. Finally, Canaccord Genuity Group reiterated a "hold" rating and set a $11.00 price objective (down previously from $28.00) on shares of Regulus Therapeutics in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Regulus Therapeutics currently has a consensus rating of "Hold" and an average price target of $8.50.

Regulus Therapeutics Price Performance

The firm's 50-day moving average price is $2.11 and its 200-day moving average price is $1.66. The stock has a market cap of $520.01 million, a P/E ratio of -7.34 and a beta of 1.03.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). During the same quarter in the previous year, the firm posted ($0.40) earnings per share. Sell-side analysts expect that Regulus Therapeutics Inc. will post -0.88 earnings per share for the current year.

Institutional Trading of Regulus Therapeutics

Hedge funds have recently modified their holdings of the company. Barclays PLC raised its position in shares of Regulus Therapeutics by 285.2% during the 3rd quarter. Barclays PLC now owns 84,477 shares of the biopharmaceutical company's stock valued at $132,000 after buying an additional 62,549 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Regulus Therapeutics by 193.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,972 shares of the biopharmaceutical company's stock valued at $124,000 after purchasing an additional 52,059 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Regulus Therapeutics in the 3rd quarter worth approximately $46,000. PEAK6 LLC bought a new position in shares of Regulus Therapeutics during the 4th quarter valued at approximately $95,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Regulus Therapeutics during the 1st quarter valued at $96,000. 92.38% of the stock is owned by hedge funds and other institutional investors.

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.