Rein Therapeutics Inc. (NASDAQ:RNTX) Short Interest Update

Key Points

• Short interest surged sharply in Rein Therapeutics, rising 187.6% in June to 898,096 shares, or about 1.1% of the float. The short-interest ratio is 1.1 days based on average trading volume.
• The stock fell 7.4% to $0.91, near its 52-week low of $0.86. Rein has a market cap of about $77.6 million and trades below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with an average rating of “Hold” and a consensus price target of $7.00. The company recently beat quarterly EPS estimates, but analysts still expect a loss for the current fiscal year.

Rein Therapeutics Inc. (NASDAQ:RNTX - Get Free Report) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 898,096 shares, an increase of 187.6% from the June 15th total of 312,225 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 804,191 shares, the short-interest ratio is presently 1.1 days.

Rein Therapeutics Trading Down 7.4%

Shares of NASDAQ RNTX traded down $0.07 during midday trading on Monday, reaching $0.91. The company's stock had a trading volume of 641,376 shares, compared to its average volume of 438,523. Rein Therapeutics has a one year low of $0.86 and a one year high of $2.18. The company has a market cap of $77.63 million, a price-to-earnings ratio of -0.48 and a beta of 1.35. The company has a 50 day moving average price of $1.02 and a 200 day moving average price of $1.21.

Rein Therapeutics (NASDAQ:RNTX - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.30. Research analysts anticipate that Rein Therapeutics will post -0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on RNTX. Wall Street Zen upgraded shares of Rein Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rein Therapeutics in a research report on Friday, June 26th. Finally, HC Wainwright dropped their price objective on Rein Therapeutics from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.00.

Hedge Funds Weigh In On Rein Therapeutics

Hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new stake in shares of Rein Therapeutics during the third quarter worth $35,000. HRT Financial LP purchased a new position in Rein Therapeutics in the 4th quarter worth about $38,000. Chicago Partners Investment Group LLC increased its stake in Rein Therapeutics by 32.2% in 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. purchased a new position in Rein Therapeutics in the 2nd quarter worth about $68,000. Finally, Jane Street Group LLC acquired a new stake in Rein Therapeutics during the 4th quarter worth about $72,000. 90.89% of the stock is currently owned by institutional investors and hedge funds.

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.

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.