Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
These transactions were conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs). The sales were made under a pre-existing 10b5-1 plan, indicating they were not discretionary trades by Hagan. Following these transactions, Hagan retains ownership of 210,808 shares in the company. InvestingPro subscribers have access to 12 additional investment tips for RGLS, including detailed insights on the company's financial health, which is currently rated as Fair, and comprehensive analysis of its market position. InvestingPro subscribers have access to 12 additional investment tips for RGLS, including detailed insights on the company's financial health, which is currently rated as Fair, and comprehensive analysis of its market position.
These transactions were conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs). The sales were made under a pre-existing 10b5-1 plan, indicating they were not discretionary trades by Hagan. Following these transactions, Hagan retains ownership of 210,808 shares in the company.
In other recent news, Regulus (NASDAQ:RGLS) Therapeutics has been the subject of several significant developments. The biopharmaceutical company has secured an exclusive license from The University of Texas System for patents and technology aimed at treating autosomal dominant polycystic kidney disease. The agreement includes initial payments, milestone payments for clinical, regulatory, and commercial achievements, as well as tiered royalties on net sales of licensed products.
Regulus is also making strides in its clinical trials, completing patient enrollment for a Phase 1b study of RGLS8429, with topline data expected in early 2025. Analyst firms H.C. Wainwright and Canaccord Genuity have both maintained Buy ratings on Regulus Therapeutics, indicating confidence in the company's ongoing projects.
Furthermore, Jones Trading has reiterated its Buy rating on Regulus, with a steady price target of $8.00. This follows a conversation with Regulus Therapeutics' CEO and President, focusing on the company's clinical candidate RGLS8429. The company is on track for an End of Phase 1 meeting with the FDA by the end of 2024, with plans to possibly start a pivotal study in 2025. These are among the recent developments in Regulus Therapeutics' operations.
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