Regulus Therapeutics Inc. (NASDAQ: RGLS) shares rose in value on Wednesday January 18 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, in early trade today, the S&P 500 SPX, +0.00% was off 2 points, or 0.1%, at 2,265, shortly after open. The Nasdaq Composite COMP, +0.20% was flat at 5,537. The Dow Jones Industrial Average DJIA, -0.20% slipped 54 points or 0.3%, to 19,770.
Analysts at Zacks Investment Research upgraded shares of Regulus Therapeutics Inc. (NASDAQ: RGLS) from Sell to Buy today. The company currently has a rating of Buy on the stock. The one-year price target of $8.60 is above the opening price of $2.40, that has caused a fair amount of other analysts to issue statements on the stock recently. Looking back over the last 52 weeks, Regulus Therapeutics Inc. stock has a high of $8.90. Usually, after analysts publish an upgrade report on a stock, they will subsequently issue periodic revisions, usually followed by a price target change.
Shares of Regulus Therapeutics Inc. (NASDAQ: RGLS) opened at $2.40 yesterday trading between $2.35 and $2.45, and last traded at $2.43, which represents a spike of $0.08 compared to the previous closing price.
Regulus Therapeutics Inc. (NASDAQ: RGLS) now has a market cap of 128.34M.
Regulus Therapeutics Inc. (NASDAQ: RGLS) Average Daily Trading Volume
The stock’s average daily volume is 575,997 shares out of a total float 36,032,000 and some 62,282 shares traded hands yesterday, 44 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Regulus Therapeutics Inc. (NASDAQ: RGLS) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Regulus Therapeutics Inc. (NASDAQ: RGLS) have ranged from $2.13 – 8.900, and the stock now has a 50-day MA of $2.46 and 200-day MA of $3.02. Today’s last price is 72.75%% below the 52 week high of $8.90.
Earnings growth is a crucial factor to research when investing in stocks and investors identify companies that have grown their earnings by at least 25% over 3 consecutive years.
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