Reneo Pharmaceuticals (NASDAQ:RPHM) Shares Up 0.6%

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM - Get Free Report) traded up 0.6% during mid-day trading on Tuesday . The stock traded as high as $1.71 and last traded at $1.71. 86,279 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 318,690 shares. The stock had previously closed at $1.70.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RPHM shares. Robert W. Baird downgraded shares of Reneo Pharmaceuticals from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $28.00 to $3.00 in a report on Thursday, December 14th. Jefferies Financial Group reissued a "hold" rating on shares of Reneo Pharmaceuticals in a report on Friday, December 15th. Bank of America downgraded shares of Reneo Pharmaceuticals from a "buy" rating to an "underperform" rating in a report on Thursday, December 14th. LADENBURG THALM/SH SH downgraded shares of Reneo Pharmaceuticals from a "buy" rating to a "neutral" rating in a report on Thursday, December 14th. Finally, William Blair downgraded shares of Reneo Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Thursday, December 14th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.14.

Reneo Pharmaceuticals Price Performance

The company has a market capitalization of $57.15 million, a P/E ratio of -0.68 and a beta of 0.24. The stock's 50 day simple moving average is $1.65 and its two-hundred day simple moving average is $4.11.

Institutional Investors Weigh In On Reneo Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Eventide Asset Management LLC grew its position in shares of Reneo Pharmaceuticals by 18.8% during the 3rd quarter. Eventide Asset Management LLC now owns 2,078,142 shares of the company's stock worth $15,825,000 after buying an additional 328,142 shares during the period. BML Capital Management LLC acquired a new stake in shares of Reneo Pharmaceuticals during the 4th quarter worth approximately $2,103,000. Highbridge Capital Management LLC acquired a new stake in shares of Reneo Pharmaceuticals during the 4th quarter worth approximately $1,795,000. Great Point Partners LLC grew its position in shares of Reneo Pharmaceuticals by 796.3% during the 2nd quarter. Great Point Partners LLC now owns 1,083,317 shares of the company's stock worth $7,107,000 after buying an additional 962,453 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Reneo Pharmaceuticals by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 975,147 shares of the company's stock worth $7,426,000 after buying an additional 17,294 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

About Reneo Pharmaceuticals

Reneo Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases. Its lead product candidate is REN001, a potent and selective agonist of the peroxisome proliferator-activated receptor delta that is in clinical development for genetic mitochondrial diseases comprising primary mitochondrial myopathies and long-chain fatty acid oxidation disorders.