In a recent transaction, Kathryn J. Collier, a director at Regulus (NASDAQ:RGLS) Therapeutics Inc. (NASDAQ:RGLS), has increased her stake in the company by purchasing shares valued at approximately $7,280. The transaction, which took place on July 25, 2024, involved Collier acquiring 4,000 shares of Regulus Therapeutics' common stock at a price of $1.82 per share.
This purchase reflects a vote of confidence from Collier in the pharmaceutical company, which specializes in preparations for various medical treatments. Following the acquisition, Collier now owns a total of 6,740 shares in Regulus Therapeutics. The transaction was made public through a Form 4 filing with the Securities and Exchange Commission on July 29, 2024.
Regulus Therapeutics, based in San Diego, California, is known for its work in the life sciences sector and has been a key player in the pharmaceutical industry. The company's stock transactions are closely watched by investors seeking insights into the behavior of company insiders.
The purchase by Collier is noteworthy as transactions by directors can provide indications of their perspective on the company's current valuation and future prospects. It's also a signal to the market that could potentially influence the stock's performance in the upcoming period.
In other recent news, Regulus Therapeutics has been making significant strides in its clinical studies. The biopharmaceutical company announced positive topline results from the third cohort of the Phase 1b multiple-ascending dose (MAD) study for its treatment candidate, RGLS8429, in patients with Autosomal Dominant Polycystic Kidney Disease (ADPKD). The results demonstrated that RGLS8429 was well tolerated and showed a significant dose response in urinary biomarkers, along with a reduction in kidney volume in a majority of patients at the 3 mg/kg dose level.
In response to these results, H.C. Wainwright raised its price target for Regulus Therapeutics shares to $10 from $9, maintaining a Buy rating. The firm increased the probability of RGLS8429's approval from 50% to 55%, citing the new data and updated approval likelihood as the basis for the revised 12-month price target. Similarly, Jones Trading reiterated its Buy rating on Regulus, maintaining a price target of $8.00, reflecting confidence in the company's ongoing research.
Regulus Therapeutics has also begun enrollment for the fourth cohort of the study, which will involve a fixed dose of 300 mg of RGLS8429 administered every other week for three months. The next significant update from the company is expected to be the fixed dose data, available in late 2024 or early 2025. The company anticipates an End-of-Phase 1 meeting with the FDA in the fourth quarter of this year. These developments underline Regulus Therapeutics' commitment to addressing the challenging condition of ADPKD.
InvestingPro Insights
In light of the recent share purchase by Director Kathryn J. Collier, a closer look at Regulus Therapeutics Inc . through InvestingPro insights reveals a mixed financial picture. With a market capitalization of $121.11 million, the company holds more cash than debt, a positive sign of financial stability. This is particularly relevant as it provides the company with a cushion to navigate through its cash burn issues, as it is quickly burning through cash according to an InvestingPro Tip.
Another InvestingPro Tip points out the company's weak gross profit margins, which is corroborated by a gross profit of -$22.27 million over the last twelve months as of Q1 2024. The company has also been operating at a loss, with an operating income of -$32.57 million in the same period. Despite these challenges, Regulus Therapeutics' liquid assets exceed its short-term obligations, which could be reassuring for investors concerned about the company's immediate financial obligations.
From a stock performance perspective, Regulus Therapeutics has experienced a large price uptick over the last six months, with a 41.27% return, and year-to-date, the stock has garnered a 39.06% return. This could indicate a turning point for the company's stock, which has performed poorly over the last decade.
For investors seeking deeper insights into Regulus Therapeutics' financial health and stock performance, there are additional InvestingPro Tips available that could provide a more comprehensive understanding of the company's prospects. Interested readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking access to these valuable tips.
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