Regulus Therapeutics (NASDAQ:RGLS) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.46 and traded as high as $1.84. Regulus Therapeutics shares last traded at $1.78, with a volume of 833,887 shares trading hands.

Wall Street Analysts Forecast Growth

RGLS has been the topic of several analyst reports. Canaccord Genuity Group restated a "buy" rating and set a $28.00 price target on shares of Regulus Therapeutics in a research report on Monday, March 17th. Wells Fargo & Company upgraded Regulus Therapeutics from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $3.00 to $6.00 in a research report on Thursday, March 27th. Finally, 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Regulus Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $12.75.

Regulus Therapeutics Price Performance

The firm has a market capitalization of $130.83 million, a PE ratio of -1.86 and a beta of 1.03. The company's fifty day simple moving average is $1.46 and its 200-day simple moving average is $1.47.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). During the same period in the previous year, the business earned ($0.40) EPS. Analysts forecast that Regulus Therapeutics Inc. will post -0.88 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Joseph P. Hagan acquired 50,000 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $1.09 per share, for a total transaction of $54,500.00. Following the acquisition, the chief executive officer now owns 260,808 shares of the company's stock, valued at approximately $284,280.72. This trade represents a 23.72 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 4.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regulus Therapeutics

A number of hedge funds have recently modified their holdings of RGLS. Jane Street Group LLC purchased a new stake in Regulus Therapeutics during the 3rd quarter valued at about $46,000. PEAK6 LLC acquired a new stake in shares of Regulus Therapeutics in the fourth quarter valued at approximately $95,000. Velan Capital Investment Management LP purchased a new position in Regulus Therapeutics during the fourth quarter worth approximately $111,000. JPMorgan Chase & Co. boosted its stake in Regulus Therapeutics by 193.4% during the third quarter. JPMorgan Chase & Co. now owns 78,972 shares of the biopharmaceutical company's stock worth $124,000 after buying an additional 52,059 shares during the last quarter. Finally, Barclays PLC grew its holdings in Regulus Therapeutics by 285.2% in 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. 92.38% of the stock is currently owned by institutional investors and hedge funds.

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.