Rein Therapeutics (NASDAQ:RNTX) Given "Buy" Rating at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Rein Therapeutics, while the broader analyst consensus remains “Hold” with an average price target of $6.00.
• Rein Therapeutics shares opened at $0.84, near the lower end of their 52-week range of $0.69 to $2.18. The company reported a quarterly loss of $0.10 per share, beating the consensus estimate of a $0.27 loss.
• Institutional investors own approximately 90.89% of the stock, with Vanguard increasing its position by 32.2%. The clinical-stage biotech is developing RT-101, an early-phase immuno-oncology therapy for solid tumors.

Rein Therapeutics (NASDAQ:RNTX - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a research report issued on Tuesday, MarketBeat.com reports.

A number of other brokerages have also recently commented on RNTX. Maxim Group started coverage on shares of Rein Therapeutics in a research note on Monday, July 20th. They set a "buy" rating and a $4.00 price target on the stock. Wall Street Zen upgraded shares of Rein Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised shares of Rein Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.00.

Rein Therapeutics Stock Performance

Shares of Rein Therapeutics stock opened at $0.84 on Tuesday. The stock has a market capitalization of $71.96 million, a P/E ratio of -0.49 and a beta of 1.39. Rein Therapeutics has a 52-week low of $0.69 and a 52-week high of $2.18. The stock's 50-day simple moving average is $0.89 and its 200 day simple moving average is $1.13.

Rein Therapeutics (NASDAQ:RNTX - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.17. Equities research analysts forecast that Rein Therapeutics will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Rein Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC bought a new stake in Rein Therapeutics during the second quarter valued at $344,000. Northwestern Mutual Wealth Management Co. bought a new position in Rein Therapeutics in the 2nd quarter worth about $68,000. Cable Car Capital LP bought a new position in Rein Therapeutics in the 2nd quarter worth about $588,000. Vanguard Group Inc. raised its holdings in shares of Rein Therapeutics by 32.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,168,407 shares of the company's stock valued at $1,338,000 after acquiring an additional 284,300 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of Rein Therapeutics in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 90.89% of the company's stock.

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.

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