Rein Therapeutics Inc. (NASDAQ:RNTX) Stock Has Average Price Target of $6.00 According to Brokerages

Key Points

• Analyst consensus on Rein Therapeutics is “Hold,” based on four analysts: two buys, one hold and one sell. The average 12-month price target is $6.00.
• RNTX shares opened at $0.70, with a 52-week range of $0.54 to $2.18 and a market capitalization of approximately $60.75 million. The company reported a quarterly loss of $0.10 per share, beating the consensus estimate of a $0.27 loss.
• Institutional investors own 90.89% of the company, with several funds recently increasing or initiating positions. Rein is developing bexotegrast, an investigational treatment for pulmonary and fibrotic diseases including idiopathic pulmonary fibrosis and primary sclerosing cholangitis.

Rein Therapeutics Inc. (NASDAQ:RNTX - Get Free Report) has earned an average recommendation of "Hold" from the four brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.00.

Several research analysts have recently weighed in on RNTX shares. Maxim Group assumed coverage on Rein Therapeutics in a research note on Monday, July 20th. They set a "buy" rating and a $4.00 target price for the company. HC Wainwright reiterated a "buy" rating on shares of Rein Therapeutics in a report on Tuesday, August 18th. Finally, Weiss Ratings cut shares of Rein Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 21st.

Rein Therapeutics Stock Up 20.7%

Shares of Rein Therapeutics stock opened at $0.70 on Wednesday. Rein Therapeutics has a twelve month low of $0.54 and a twelve month high of $2.18. The business has a 50-day moving average price of $0.75 and a 200 day moving average price of $1.05. The firm has a market cap of $60.75 million, a PE ratio of -0.41 and a beta of 1.35.

Rein Therapeutics (NASDAQ:RNTX - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.17. On average, sell-side analysts expect that Rein Therapeutics will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Rein Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC increased its position in Rein Therapeutics by 32.2% during the first quarter. Chicago Partners Investment Group LLC now owns 41,048 shares of the company's stock worth $53,000 after purchasing an additional 10,000 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Rein Therapeutics in the 2nd quarter valued at about $260,000. Sigma Planning Corp grew its holdings in Rein Therapeutics by 41.0% during the 1st quarter. Sigma Planning Corp now owns 348,677 shares of the company's stock worth $453,000 after acquiring an additional 101,400 shares in the last quarter. Finally, Velan Capital Investment Management LP acquired a new position in shares of Rein Therapeutics during the second quarter worth $1,768,000. Institutional investors and hedge funds own 90.89% of the company's stock.

About Rein Therapeutics

Rein Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious pulmonary and fibrotic diseases. The company's research is centered on therapies intended to address the underlying biological mechanisms that drive tissue scarring and chronic disease progression.

Its lead investigational product is bexotegrast, an oral small-molecule inhibitor of the integrins αvβ1 and αvβ6. Rein Therapeutics is evaluating bexotegrast in clinical development for conditions including idiopathic pulmonary fibrosis, a progressive lung disease, and primary sclerosing cholangitis, a chronic disease that affects the bile ducts and can lead to liver damage.

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