HC Wainwright Reiterates “Buy” Rating for Regulus Therapeutics (NASDAQ:RGLS)

HC Wainwright reaffirmed their buy rating on shares of Regulus Therapeutics (NASDAQ:RGLS) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $10.00 target price on the biopharmaceutical company’s stock.

Regulus Therapeutics Trading Up 7.1 %

NASDAQ RGLS opened at $1.36 on Wednesday. The company has a market cap of $89.08 million, a price-to-earnings ratio of -1.27 and a beta of 1.58. The company has a 50 day moving average of $1.33 and a 200-day moving average of $1.49. Regulus Therapeutics has a 1-year low of $0.83 and a 1-year high of $3.79.

Insider Activity

In related news, CEO Joseph P. Hagan purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $1.09 per share, with a total value 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 $284,280.72. This trade represents a 23.72 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Crispina Calsada sold 38,716 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $1.26, for a total transaction of $48,782.16. Following the sale, the chief financial officer now directly owns 50,566 shares of the company’s stock, valued at $63,713.16. This represents a 43.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 223,998 shares of company stock worth $282,237. 4.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning bought a new stake in Regulus Therapeutics during the third quarter worth $26,000. SG Americas Securities LLC acquired a new position in shares of Regulus Therapeutics during the 3rd quarter worth $33,000. Jane Street Group LLC bought a new stake in shares of Regulus Therapeutics during the 3rd quarter worth $46,000. PEAK6 LLC acquired a new stake in Regulus Therapeutics in the fourth quarter valued at about $95,000. Finally, Velan Capital Investment Management LP bought a new position in Regulus Therapeutics in the fourth quarter valued at about $111,000. 92.38% of the stock is owned by 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.