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SAN DIEGO—Christopher Ray Aker, Senior Vice President and General Counsel at Regulus Therapeutics Inc . (NASDAQ:RGLS), recently sold shares of the company as reported in a Form 4 filing with the Securities and Exchange Commission. The transactions, executed under a 10b5-1 trading plan, were aimed at covering tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs). The sales come amid challenging market conditions for the $82.5 million market cap company, whose stock has declined nearly 18% in the past week and is currently trading at $1.27, significantly below its 52-week high of $3.79.
On January 13, Aker sold 38,547 shares at a price of $1.2632 per share, amounting to a total of $48,692. The following day, an additional 5,088 shares were sold at the same price, totaling $6,427. After these transactions, Aker holds 49,546 shares of Regulus Therapeutics. According to InvestingPro, the stock shows significant volatility with 12 key insights available to subscribers, including detailed analysis of the company's financial health and future prospects.
These sales were not discretionary but were part of a pre-established plan to manage tax liabilities related to RSU vesting.
In other recent news, Regulus Therapeutics has been the subject of numerous 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. In addition to this, Regulus has completed patient enrollment for a Phase 1b study of RGLS8429, with the release of topline data anticipated in early 2025.
Jones Trading has reaffirmed its Buy rating on Regulus, expressing confidence in the company's strategic approach towards developing its treatment for autosomal dominant polycystic kidney disease. The firm anticipates a pivotal study and fixed-dose data in 2025. Other analyst firms, H.C. Wainwright and Canaccord Genuity, have also maintained Buy ratings on Regulus Therapeutics, reflecting a strong bullish consensus.
Regulus is also preparing for an end-of-Phase 1 meeting with the FDA, expected to occur by the end of 2024. This meeting is set to finalize the design for a pivotal Phase 2/3 trial in 2025. These are among the recent developments in Regulus Therapeutics' clinical program.
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