Rein Therapeutics (NASDAQ:RNTX) Shares Up 9.6% - Here's Why

Key Points

• Rein Therapeutics shares jumped 9.6% to $0.79, with trading volume modestly above average. The company has a market capitalization of approximately $68.2 million.
• Analyst sentiment is mixed: two analysts rate the stock Buy, one rates it Hold, and one rates it Sell. The consensus rating is Hold, with a $6.00 price target, while Maxim Group set a $4.00 target.
• Rein 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 stock, and the company is developing RNTX-001 for pulmonary fibrosis and other fibrotic diseases.

Rein Therapeutics Inc. (NASDAQ:RNTX - Get Free Report)'s share price rose 9.6% on Tuesday. The company traded as high as $0.81 and last traded at $0.79. Approximately 388,369 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 357,806 shares. The stock had previously closed at $0.7210.

Analyst Upgrades and Downgrades

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

Rein Therapeutics Price Performance

The company has a market cap of $68.15 million, a price-to-earnings ratio of -0.46 and a beta of 1.37. The firm's 50 day simple moving average is $0.79 and its 200-day simple moving average is $1.04.

Rein Therapeutics (NASDAQ:RNTX - Get Free Report) last issued its quarterly earnings data 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, analysts forecast that Rein Therapeutics Inc. will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Rein Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Velan Capital Investment Management LP purchased a new position in Rein Therapeutics during the 2nd quarter worth $1,768,000. Voss Capital LP increased its stake in Rein Therapeutics by 59.2% in the fourth 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. Sequoia Financial Advisors LLC purchased a new stake in shares of Rein Therapeutics in the second quarter valued at about $260,000. Sigma Planning Corp raised its holdings 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 buying an additional 101,400 shares during the last quarter. Finally, Gagnon Securities LLC boosted its stake in shares of Rein Therapeutics by 5.0% during the fourth quarter. Gagnon Securities LLC now owns 240,220 shares of the company's stock worth $279,000 after buying an additional 11,528 shares during the period. Hedge funds and other institutional investors own 90.89% of the company's stock.

About Rein Therapeutics

Rein Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for serious diseases with significant unmet medical needs. The company's research and development activities are centered on fibrotic diseases, in which excessive scar tissue can impair the function of organs and lead to progressive illness.

Rein Therapeutics' lead investigational program is RNTX-001, an experimental therapy being developed for pulmonary fibrosis and potentially other fibrotic conditions.

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