The stock of Regulus Therapeutics Inc. (NASDAQ:RGLS) is now priced at $0.57 and the shares are 0.01 points up or 2.52% higher compared to its previous closing price of $0.56. The stock had 2.403 million contracts set over the past session. RGLS shares’ daily volume is compared to its average trading volume at 2.921 million shares. However, it has a float of 28.25 million and although its performance was -2.68% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the RGLS share price recently placing at $0.549 to $0.68. However, some brokerage firms have priced the stock below the average, including one that has called $0.5.
The shorts are running away from the Regulus Therapeutics Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the RGLS shares have declined. Short interest in the stock represents just 5.62% of its float, but the volume has dropped by -60591. The volume of shorted shares dropped to 1.588 million from 1.649 million shares over the last two weeks. The average intraday trading volume has been 1.294 million shares, which means that days to cover moved to roughly 1.227007.
In the last trading session, Regulus Therapeutics Inc. (NASDAQ:RGLS) dropped by -$0.0157 over the week and lost -$0.1327 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.74. The stock recorded its established 52-week high on 01/09/20.
Since 03/23/20, the stock has traded to a low of $0.43 at 32.53%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.02. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Regulus Therapeutics Inc.’s two-week RSI is 38.41. This suggests that the stock is neutral at the moment and that RGLS shares’ price movement remains stable. The stochastic readings are equally revealing at 14.18% meaning the RGLS share price is currently in overbought territory.
The technical chart shows that the RGLS stock will likely settle at between $0.6503 and $0.7306 per share. However, if the stock dips below $0.5193, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.4686.
Currently, the stock is trading in the red of MACD, with a reading of -0.0244. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned RGLS a rating of Neutral in their intiating review released on March 28. Leerink Partners analysts see the stock as a Outperform with a target price of $2 in a flash note released to investors on January 05 initiating covering the stock. Chardan Capital Markets analysts see the stock as Buy. Nonetheless, the analysts revised the share prices down on June 13, placing it at $2.50 from $5.
The average rating for the RGLS equity is 2.75 and is currently gathering a bullish momentum. Of 4 analysts tracking Regulus Therapeutics Inc. polled by Reuters, 3 rated RGLS as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.