Velan Capital Investment Management LP Buys New Shares in Rein Therapeutics Inc. $RNTX

Key Points

• Velan Capital Investment Management bought 1.7 million shares of Rein Therapeutics, valued at approximately $1.77 million, giving it a 1.97% stake. Institutional investors collectively own 90.89% of the company.
• RNTX opened at $0.75, near its one-year low of $0.69, with its 50-day and 200-day moving averages at $0.85 and $1.10, respectively. The company reported a quarterly loss of $0.10 per share, better than the expected loss of $0.27.
• Analyst sentiment is mixed, with two Buy ratings, one Hold, and one Sell; the average rating is Hold with a $6.00 price target. Rein is developing the RT-101 tumor-activated IL-12 prodrug for solid tumors, currently in early-stage clinical trials.

Velan Capital Investment Management LP bought a new position in shares of Rein Therapeutics Inc. (NASDAQ:RNTX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,700,000 shares of the company's stock, valued at approximately $1,768,000. Rein Therapeutics makes up approximately 1.1% of Velan Capital Investment Management LP's portfolio, making the stock its 19th largest position. Velan Capital Investment Management LP owned about 1.97% of Rein Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Susquehanna International Group LLP bought a new position in Rein Therapeutics in the third quarter valued at approximately $35,000. HRT Financial LP bought a new stake in shares of Rein Therapeutics during the 4th quarter worth approximately $38,000. Chicago Partners Investment Group LLC raised its stake in shares of Rein Therapeutics by 32.2% during the 1st 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 in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Rein Therapeutics in the 2nd quarter valued at approximately $68,000. Finally, Jane Street Group LLC acquired a new stake in shares of Rein Therapeutics in the 4th quarter valued at approximately $72,000. Institutional investors own 90.89% of the company's stock.

Rein Therapeutics Price Performance

RNTX opened at $0.75 on Wednesday. The business has a fifty day simple moving average of $0.85 and a 200 day simple moving average of $1.10. Rein Therapeutics Inc. has a 1 year low of $0.69 and a 1 year high of $2.18. The company has a market capitalization of $64.94 million, a PE ratio of -0.44 and a beta of 1.37.

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

Analyst Ratings Changes

RNTX has been the topic of a number of recent analyst reports. Maxim Group assumed coverage on shares of Rein Therapeutics in a report on Monday, July 20th. They set a "buy" rating and a $4.00 target price on the stock. Wall Street Zen upgraded shares of Rein Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. HC Wainwright restated a "buy" rating on shares of Rein Therapeutics in a research note on Tuesday, August 18th. Finally, Weiss Ratings lowered shares of Rein Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 21st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Rein Therapeutics presently has an average rating of "Hold" and an average price target of $6.00.

Rein Therapeutics Company Profile

Rein Therapeutics is a clinical-stage biotechnology company focused on developing novel immuno-oncology therapies for patients with solid tumors. The company's core technology is a tumor-activated interleukin-12 (IL-12) prodrug platform, designed to confine cytokine activity to the tumor microenvironment and thereby enhance anti-tumor immunity while minimizing systemic toxicity.

The lead candidate, RT-101, is currently in early-phase clinical trials targeting multiple solid tumor indications, including head and neck cancer and non-small cell lung cancer.

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