Rein Therapeutics Inc. (NASDAQ:RNTX) Sees Large Drop in Short Interest

Rein Therapeutics Inc. (NASDAQ:RNTX) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 199,688 shares, a decrease of 52.5% from the December 15th total of 420,743 shares. Based on an average daily volume of 267,208 shares, the short-interest ratio is presently 0.7 days. Currently, 0.8% of the company’s stock are short sold. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 267,208 shares, the short-interest ratio is presently 0.7 days.

Rein Therapeutics Price Performance

Shares of NASDAQ RNTX traded up $0.01 during trading hours on Wednesday, hitting $1.14. 104,104 shares of the stock were exchanged, compared to its average volume of 127,885. Rein Therapeutics has a one year low of $1.02 and a one year high of $3.50. The company’s 50 day moving average is $1.36 and its 200 day moving average is $1.32. The firm has a market capitalization of $29.97 million, a P/E ratio of -0.43 and a beta of 1.31.

Rein Therapeutics (NASDAQ:RNTX) last released its earnings results on Friday, November 14th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Research analysts anticipate that Rein Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Rein Therapeutics

In other news, major shareholder Voss Capital, Lp purchased 104,183 shares of Rein Therapeutics stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $1.22 per share, for a total transaction of $127,103.26. Following the acquisition, the insider directly owned 926,441 shares in the company, valued at $1,130,258.02. This represents a 12.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders bought 410,233 shares of company stock worth $550,563. 5.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Gleason Group Inc. bought a new stake in shares of Rein Therapeutics in the third quarter valued at approximately $26,000. Blair William & Co. IL acquired a new position in Rein Therapeutics in the 2nd quarter valued at approximately $33,000. Susquehanna International Group LLP acquired a new position in shares of Rein Therapeutics in the third quarter valued at $35,000. Meridian Wealth Advisors LLC acquired a new position in shares of Rein Therapeutics in the 2nd quarter valued at $40,000. Finally, Exencial Wealth Advisors LLC bought a new position in Rein Therapeutics during the second quarter worth about $43,000. 90.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. HC Wainwright initiated coverage on Rein Therapeutics in a report on Monday, September 22nd. They issued a “buy” rating and a $10.00 price objective on the stock. Loop Capital set a $6.00 price target on shares of Rein Therapeutics in a research note on Monday, November 3rd. Wall Street Zen lowered shares of Rein Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Rein Therapeutics in a research report on Wednesday, October 8th. Finally, Brookline Capital Management upgraded Rein Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rein Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $8.00.

About Rein Therapeutics

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.