Rein Therapeutics Inc. (NASDAQ:RNTX – Get Free Report)’s share price shot up 9.6% during trading on Tuesday. The stock traded as high as $0.81 and last traded at $0.79. Approximately 388,369 shares traded hands during trading, an increase of 9% from the average session volume of 357,806 shares. The stock had previously closed at $0.7210.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on RNTX shares. Weiss Ratings lowered shares of Rein Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Wall Street Zen upgraded shares of Rein Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. HC Wainwright restated a “buy” rating on shares of Rein Therapeutics in a research note on Tuesday, August 18th. Finally, Maxim Group began coverage on shares of Rein Therapeutics in a report on Monday, July 20th. They issued a “buy” rating and a $4.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.00.
Check Out Our Latest Analysis on RNTX
Rein Therapeutics Trading Up 6.0%
Rein Therapeutics (NASDAQ:RNTX – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.17. On average, equities research analysts forecast that Rein Therapeutics Inc. will post -0.47 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC lifted its position 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 valued at $53,000 after acquiring an additional 10,000 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Rein Therapeutics during the 2nd quarter worth approximately $260,000. Gagnon Securities LLC grew its holdings in shares of Rein Therapeutics by 5.0% in the 4th quarter. Gagnon Securities LLC now owns 240,220 shares of the company’s stock worth $279,000 after acquiring an additional 11,528 shares during the period. Sigma Planning Corp grew its holdings in shares of Rein Therapeutics by 41.0% in the 1st quarter. Sigma Planning Corp now owns 348,677 shares of the company’s stock worth $453,000 after acquiring an additional 101,400 shares during the period. Finally, Velan Capital Investment Management LP purchased a new position in Rein Therapeutics in the 2nd quarter valued at approximately $1,768,000. 90.89% of the stock is owned by hedge funds and other institutional investors.
Rein Therapeutics Company Profile
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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