Regulus Therapeutics (NASDAQ:RGLS) Rating Increased to Overweight at Wells Fargo & Company

Regulus Therapeutics (NASDAQ:RGLS) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $6.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $3.00. Wells Fargo & Company‘s price objective indicates a potential upside of 248.72% from the company’s previous close.

RGLS has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Regulus Therapeutics in a report on Friday, March 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $28.00 price target on shares of Regulus Therapeutics in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.75.

Regulus Therapeutics Trading Up 33.4 %

RGLS stock traded up $0.43 during trading on Thursday, hitting $1.72. The company had a trading volume of 27,909,118 shares, compared to its average volume of 612,908. The business has a 50 day moving average of $1.27 and a 200 day moving average of $1.45. The firm has a market capitalization of $113.98 million, a price-to-earnings ratio of -1.61 and a beta of 1.42. Regulus Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $3.00.

Regulus Therapeutics (NASDAQ:RGLS) last posted its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). During the same quarter in the prior year, the firm earned ($0.40) earnings per share. As a group, equities analysts predict that Regulus Therapeutics will post -0.88 EPS for the current year.

Insider Buying and Selling

In other Regulus Therapeutics news, insider Preston Klassen sold 31,445 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $1.26, for a total transaction of $39,620.70. Following the sale, the insider now directly owns 36,055 shares of the company’s stock, valued at $45,429.30. The trade was a 46.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph P. Hagan bought 50,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $1.09 per share, with a total value of $54,500.00. Following the transaction, the chief executive officer now owns 260,808 shares of the company’s stock, valued at $284,280.72. This trade represents a 23.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 223,998 shares of company stock worth $282,237 in the last three months. 4.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Regulus Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Regulus Therapeutics by 13.9% during the fourth quarter. Barclays PLC now owns 96,247 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 11,770 shares during the period. Renaissance Technologies LLC increased its position 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 purchasing an additional 19,900 shares during the last quarter. Jane Street Group LLC bought a new position in Regulus Therapeutics during the third quarter valued at approximately $46,000. State Street Corp increased its stake 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 purchasing an additional 33,496 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Regulus Therapeutics by 10.4% during the third quarter. Victory Capital Management Inc. now owns 398,866 shares of the biopharmaceutical company’s stock worth $626,000 after buying an additional 37,480 shares during the last quarter. Hedge funds and other institutional investors own 92.38% of the company’s stock.

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.