Rein Therapeutics (NASDAQ:RNTX) Shares Down 2.9% – Here’s Why

Rein Therapeutics Inc. (NASDAQ:RNTXGet Free Report)’s share price traded down 2.9% on Monday . The stock traded as low as $0.7593 and last traded at $0.7940. 398,835 shares traded hands during trading, a decline of 12% from the average session volume of 453,314 shares. The stock had previously closed at $0.8175.

Analyst Upgrades and Downgrades

RNTX has been the topic of several recent research reports. Maxim Group assumed coverage on Rein Therapeutics in a research report on Monday, July 20th. They issued a “buy” rating and a $4.00 price objective on the stock. Weiss Ratings raised shares of Rein Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of Rein Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, HC Wainwright reduced their target price on shares of Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Rein Therapeutics presently has an average rating of “Hold” and an average price target of $6.00.

Read Our Latest Research Report on Rein Therapeutics

Rein Therapeutics Trading Down 2.9%

The company’s 50 day simple moving average is $0.90 and its 200 day simple moving average is $1.15. The stock has a market capitalization of $67.92 million, a PE ratio of -0.42 and a beta of 1.39.

Rein Therapeutics (NASDAQ:RNTXGet Free Report) last issued its quarterly 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. As a group, analysts predict that Rein Therapeutics Inc. will post -0.53 EPS for the current year.

Institutional Trading of Rein Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Voss Capital LP boosted its position in shares of Rein Therapeutics by 59.2% in the fourth quarter. Voss Capital LP now owns 4,243,969 shares of the company’s stock worth $4,923,000 after acquiring an additional 1,577,437 shares during the last quarter. Cable Car Capital LP acquired a new position in Rein Therapeutics during the second quarter worth approximately $588,000. Vanguard Group Inc. increased its position in Rein Therapeutics by 32.2% during the third quarter. Vanguard Group Inc. now owns 1,168,407 shares of the company’s stock worth $1,338,000 after purchasing an additional 284,300 shares during the last quarter. Geode Capital Management LLC purchased a new position in Rein Therapeutics during the second quarter worth approximately $344,000. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in Rein Therapeutics by 901.6% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 262,125 shares of the company’s stock worth $304,000 after purchasing an additional 235,954 shares during the period. 90.89% of the stock is owned by institutional investors and hedge funds.

Rein Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

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