A California-based %Biotech firm is causing a bit of a stir during Tuesday’s action after it was announced that Canaccord Genuity initiated coverage on the micro cap with a price target of $9. Seeing that this stock closed at just $1.57 on Monday, naturally there was a shift in sentiment toward the bullish side of things.
Following the initiation announcement, shares of %RegulusTherapeutics () were bid up at $1.72/share (+9.55% implied open for sellers) at the time of writing. We’re excited to see how this session plays out for this stock.
Regulus Therapeutics Inc is a biotechnology company focused on the development of %microRNA therapies. MicroRNA therapies target diseases such as cancer, metabolic diseases, fibrosis, and inflammatory diseases. MicroRNA is a noncoding ribonucleic acid that regulates most genes in the genome. The company partnered with Sanofi to create a compound targeting orphan diseases and with AstraZeneca to cure Type 2 Diabetes/prediabetes.