Regulus Therapeutics (NASDAQ:RGLS) Stock Price Passes Above 200 Day Moving Average - What's Next?

Regulus Therapeutics Inc. (NASDAQ:RGLS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.83 and traded as high as $8.35. Regulus Therapeutics shares last traded at $8.30, with a volume of 1,483,526 shares.

Analyst Ratings Changes

RGLS has been the subject of a number of recent research reports. Canaccord Genuity Group restated a "hold" rating and set a $11.00 price objective (down from $28.00) on shares of Regulus Therapeutics in a research note on Wednesday, April 30th. HC Wainwright reissued a "buy" rating and set a $10.00 target price on shares of Regulus Therapeutics in a research note on Friday, March 14th. Leerink Partnrs lowered shares of Regulus Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Leerink Partners reaffirmed a "market perform" rating and set a $7.00 price target on shares of Regulus Therapeutics in a report on Wednesday, April 30th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and set a $9.00 price objective on shares of Regulus Therapeutics in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Regulus Therapeutics currently has an average rating of "Hold" and an average target price of $8.50.

Regulus Therapeutics Trading Down 1.8%

The firm has a market capitalization of $564.26 million, a P/E ratio of -7.62 and a beta of 0.35. The business's fifty day moving average is $5.74 and its 200 day moving average is $2.91.

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

Insider Buying and Selling at Regulus Therapeutics

In related news, insider Preston Klassen purchased 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was acquired at an average cost of $7.99 per share, for a total transaction of $95,880.00. Following the completion of the acquisition, the insider now owns 48,055 shares in the company, valued at $383,959.45. This trade represents a 33.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.35% of the company's stock.

Institutional Investors Weigh In On Regulus Therapeutics

A number of institutional investors have recently modified their holdings of RGLS. JPMorgan Chase & Co. raised its holdings in Regulus Therapeutics by 141.2% during the fourth quarter. JPMorgan Chase & Co. now owns 190,457 shares of the biopharmaceutical company's stock valued at $301,000 after buying an additional 111,485 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Regulus Therapeutics by 20.5% in the 4th quarter. Renaissance Technologies LLC now owns 117,100 shares of the biopharmaceutical company's stock worth $185,000 after acquiring an additional 19,900 shares during the period. Barclays PLC lifted its position in Regulus Therapeutics by 13.9% during the 4th quarter. Barclays PLC now owns 96,247 shares of the biopharmaceutical company's stock worth $152,000 after acquiring an additional 11,770 shares during the last quarter. PEAK6 LLC acquired a new position in Regulus Therapeutics during the 4th quarter worth $95,000. Finally, Millennium Management LLC boosted its holdings in Regulus Therapeutics by 69.7% during the fourth quarter. Millennium Management LLC now owns 2,192,158 shares of the biopharmaceutical company's stock valued at $3,464,000 after acquiring an additional 900,743 shares during the period. 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.