Regulus Therapeutics (NASDAQ:RGLS) Stock Passes Above 200-Day Moving Average - Here's What Happened

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.47 and traded as high as $2.11. Regulus Therapeutics shares last traded at $2.01, with a volume of 542,264 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on RGLS. Canaccord Genuity Group restated a "buy" rating and issued a $28.00 price objective on shares of Regulus Therapeutics in a report on Monday, March 17th. Wells Fargo & Company upgraded Regulus Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $3.00 to $6.00 in a research report on Thursday, March 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of Regulus Therapeutics in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.75.

Regulus Therapeutics Stock Down 1.4 %

The firm has a market cap of $182.83 million, a PE ratio of -2.58 and a beta of 1.03. The business has a 50-day moving average price of $1.62 and a two-hundred day moving average price of $1.50.

Regulus Therapeutics (NASDAQ:RGLS - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.20). During the same period last year, the business posted ($0.40) earnings per share. On average, equities research analysts predict that Regulus Therapeutics Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Regulus Therapeutics news, CEO Joseph P. Hagan purchased 50,000 shares of the business's stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $1.09 per share, for a total transaction of $54,500.00. Following the completion of the purchase, the chief executive officer now directly owns 260,808 shares in the company, valued at approximately $284,280.72. This represents a 23.72 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Regulus Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in shares of Regulus Therapeutics by 3.5% during the 3rd quarter. State Street Corp now owns 1,000,998 shares of the biopharmaceutical company's stock worth $1,572,000 after buying an additional 33,496 shares during the last quarter. Jane Street Group LLC acquired a new position in Regulus Therapeutics in the third quarter valued at $46,000. Barclays PLC grew its holdings in shares of Regulus Therapeutics by 285.2% during the third quarter. Barclays PLC now owns 84,477 shares of the biopharmaceutical company's stock worth $132,000 after purchasing an additional 62,549 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 purchasing an additional 52,059 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Regulus Therapeutics by 20.5% in the 4th quarter. Renaissance Technologies LLC now owns 117,100 shares of the biopharmaceutical company's stock valued at $185,000 after purchasing an additional 19,900 shares during the last quarter. Institutional investors and hedge funds 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.