Maxim Group Begins Coverage on Rein Therapeutics (NASDAQ:RNTX)

Key Points

• Maxim Group initiated coverage on Rein Therapeutics with a Buy rating and a $4.00 price target, implying substantial upside from the current share price.
• Despite the new bullish call, analyst views remain mixed: the stock currently has a consensus Hold rating and an average $6.00 target, with recent rating changes from Weiss Ratings, HC Wainwright, and Wall Street Zen.
• Rein Therapeutics is a clinical-stage biotech focused on tumor-activated IL-12 therapy, and its lead candidate RT-101 is in early-phase trials for solid tumors such as head and neck cancer and non-small cell lung cancer.

Equities research analysts at Maxim Group began coverage on shares of Rein Therapeutics (NASDAQ:RNTX - Get Free Report) in a research note issued to investors on Monday,Benzinga reports. The firm set a "buy" rating and a $4.00 price target on the stock. Maxim Group's price target would suggest a potential upside of 365.12% from the stock's current price.

RNTX has been the subject of a number of other research reports. Weiss Ratings cut shares of Rein Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday. HC Wainwright dropped their price target on Rein Therapeutics from $10.00 to $8.00 and set a "buy" rating for the company in a report on Monday, June 1st. Finally, Wall Street Zen upgraded Rein Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.00.

Rein Therapeutics Trading Down 0.2%

Shares of Rein Therapeutics stock traded down $0.00 during mid-day trading on Monday, reaching $0.86. 454,278 shares of the stock were exchanged, compared to its average volume of 432,924. Rein Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $2.18. The company has a market cap of $73.56 million, a price-to-earnings ratio of -0.45 and a beta of 1.35. The firm has a 50-day simple moving average of $0.99 and a 200 day simple moving average of $1.20.

Rein Therapeutics (NASDAQ:RNTX - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.30. On average, research analysts predict that Rein Therapeutics will post -0.53 EPS for the current fiscal year.

Institutional Trading of Rein Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voss Capital LP lifted its stake in shares of Rein Therapeutics by 59.2% in the 4th quarter. Voss Capital LP now owns 4,243,969 shares of the company's stock valued at $4,923,000 after purchasing an additional 1,577,437 shares during the period. Cable Car Capital LP bought a new position in shares of Rein Therapeutics in the 2nd quarter worth $588,000. Vanguard Group Inc. grew its stake in shares of Rein Therapeutics by 32.2% during the third quarter. Vanguard Group Inc. now owns 1,168,407 shares of the company's stock worth $1,338,000 after purchasing an additional 284,300 shares during the period. Geode Capital Management LLC acquired a new stake in shares of Rein Therapeutics during the second quarter worth $344,000. Finally, Texas Capital Bank Wealth Management Services Inc increased its holdings in Rein Therapeutics by 901.6% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 262,125 shares of the company's stock valued at $304,000 after purchasing an additional 235,954 shares during the last quarter. 90.89% of the stock is owned by institutional investors.

About Rein Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.