Rein Therapeutics (NASDAQ:RNTX) Shares Climb 0.2% - Here's What Happened

Key Points

• Rein Therapeutics shares rose 0.2% to approximately $0.5832, with 394,139 shares traded—14% below average volume. The company has a market capitalization of about $50.3 million.
• Analyst sentiment is mixed: Maxim Group and HC Wainwright maintain Buy ratings, while Weiss Ratings has a Sell rating. The consensus rating is Hold, with a $6.00 price target.
• Rein reported quarterly EPS of -$0.10, beating the consensus estimate of -$0.27. Hedge funds and other institutional investors own 90.89% of the stock, while the company advances bexotegrast for pulmonary and fibrotic diseases.

Rein Therapeutics Inc. (NASDAQ:RNTX - Get Free Report) shot up 0.2% during trading on Monday. The stock traded as high as $0.6085 and last traded at $0.5832. 394,139 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 457,772 shares. The stock had previously closed at $0.5821.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RNTX shares. Maxim Group began coverage on shares of Rein Therapeutics in a report on Monday, July 20th. They set a "buy" rating and a $4.00 price objective on the stock. Weiss Ratings downgraded shares of Rein Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 21st. Finally, HC Wainwright reissued a "buy" rating on shares of Rein Therapeutics in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rein Therapeutics currently has an average rating of "Hold" and a consensus price target of $6.00.

Rein Therapeutics Stock Up 0.2%

The company has a market cap of $50.31 million, a price-to-earnings ratio of -0.34 and a beta of 1.35. The company has a fifty day simple moving average of $0.76 and a two-hundred day simple moving average of $1.05.

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

Hedge Funds Weigh In On Rein Therapeutics

Several hedge funds have recently added to or reduced their stakes in RNTX. Sequoia Financial Advisors LLC acquired a new position in Rein Therapeutics during the second quarter worth about $260,000. Velan Capital Investment Management LP acquired a new stake in shares of Rein Therapeutics in the second quarter valued at approximately $1,768,000. Sigma Planning Corp grew its position in shares of Rein Therapeutics by 41.0% in the first quarter. Sigma Planning Corp now owns 348,677 shares of the company's stock valued at $453,000 after purchasing an additional 101,400 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased 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. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

Rein Therapeutics Company Profile

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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