Regulus Therapeutics Inc [NASDAQ: RGLS] price surged by 71.01 percent to reach at $0.98. The company report on March 12, 2024 at 6:32 AM that Regulus Therapeutics Announces Oversubscribed $100 Million Private Placement of Equity.
Regulus Therapeutics Inc. (Nasdaq: RGLS), a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs (the “Company” or “Regulus”), today announced that it has entered into a definitive securities purchase agreement in connection with a private placement to certain institutional investors and other accredited investors. The oversubscribed financing includes participation from new and existing institutional investors, including Adage Capital Partners L.P., Deep Track Capital, the Federated Hermes Kaufmann Funds, New Enterprise Associates (NEA), Octagon Capital, RA Capital Management, and Vivo Capital. Upon the closing of the financing, which is anticipated to occur on or about March 14, 2024, the Company expects to receive gross proceeds of approximately $100 million. The closing of the financing is subject to customary closing conditions.
Leerink Partners is acting as the lead placement agent for the financing. H.C. Wainwright & Co. is acting as co-placement agent for the financing. Canaccord Genuity is acting as a financial advisor.
The one-year RGLS stock forecast points to a potential upside of 69.23. The average equity rating for RGLS stock is currently 1.67, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Regulus Therapeutics Inc [RGLS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RGLS shares is $7.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RGLS stock is a recommendation set at 1.67. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley FBR Inc. have made an estimate for Regulus Therapeutics Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 28, 2018. While these analysts kept the previous recommendation, Leerink Partners raised their target price to Outperform. The new note on the price target was released on January 05, 2018, representing the official price target for Regulus Therapeutics Inc stock. Previously, the target price had yet another drop from $5 to $2.50, while Chardan Capital Markets kept a Buy rating on RGLS stock. On March 06, 2017, analysts decreased their price target for RGLS shares from 8 to 6.
The Average True Range (ATR) for Regulus Therapeutics Inc is set at 0.27 The Price to Book ratio for the last quarter was 1.69, with the Price to Cash per share for the same quarter was set at 1.53.
RGLS Stock Performance Analysis:
Regulus Therapeutics Inc [RGLS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 59.46. With this latest performance, RGLS shares gained by 51.28% in over the last four-week period, additionally plugging by 57.33% over the last 6 months – not to mention a rise of 87.30% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RGLS stock in for the last two-week period is set at 81.74, with the RSI for the last a single of trading hit 86.43, and the three-weeks RSI is set at 77.67 for Regulus Therapeutics Inc [RGLS]. The present Moving Average for the last 50 days of trading for this stock 1.3900, while it was recorded at 1.6100 for the last single week of trading, and 1.3900 for the last 200 days.
Insight into Regulus Therapeutics Inc Fundamentals:
Regulus Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.89 and a Current Ratio set at 3.89.
RGLS Stock EPS
With the latest financial reports released by the company, Regulus Therapeutics Inc posted -0.4/share EPS, while the average EPS was predicted by analysts to be reported at -0.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RGLS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Regulus Therapeutics Inc go to 39.60%.
Regulus Therapeutics Inc [RGLS] Institutonal Ownership Details
The top three institutional holders of RGLS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RGLS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RGLS stock with ownership which is approximately 5.8325%.
