Short Interest in Rein Therapeutics Inc. (NASDAQ:RNTX) Declines By 52.5%

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

Rein Therapeutics Stock Up 0.9%

Shares of RNTX traded up $0.01 during mid-day trading on Wednesday, reaching $1.14. The company’s stock had a trading volume of 104,104 shares, compared to its average volume of 127,885. The company has a market cap of $29.97 million, a price-to-earnings ratio of -0.43 and a beta of 1.31. The business has a fifty day moving average of $1.36 and a 200 day moving average of $1.32. Rein Therapeutics has a 1 year low of $1.02 and a 1 year high of $3.50.

Rein Therapeutics (NASDAQ:RNTX) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. On average, analysts predict that Rein Therapeutics will post -1.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on RNTX shares. Brookline Capital Management raised shares of Rein Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen downgraded Rein Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Loop Capital set a $6.00 price objective on Rein Therapeutics in a research note on Monday, November 3rd. HC Wainwright started coverage on Rein Therapeutics in a research report on Monday, September 22nd. They set a “buy” rating and a $10.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rein Therapeutics in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Insider Buying and Selling

In other Rein Therapeutics news, major shareholder Voss Capital, Lp purchased 104,183 shares of the business’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $1.22 per share, with a total value of $127,103.26. Following the acquisition, the insider owned 926,441 shares of the company’s stock, valued at $1,130,258.02. The trade was a 12.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought 410,233 shares of company stock valued at $550,563 in the last quarter. 5.10% of the stock is currently owned by insiders.

Institutional Trading of Rein Therapeutics

Hedge funds have recently made changes to their positions in the stock. Gleason Group Inc. purchased a new position in Rein Therapeutics during the third quarter valued at approximately $26,000. Blair William & Co. IL acquired a new stake in shares of Rein Therapeutics during the 2nd quarter valued at $33,000. Susquehanna International Group LLP purchased a new position in shares of Rein Therapeutics during the 3rd quarter valued at $35,000. Meridian Wealth Advisors LLC purchased a new position in shares of Rein Therapeutics during the 2nd quarter valued at $40,000. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Rein Therapeutics in the second quarter worth $43,000. 90.89% of the stock is owned by hedge funds and other institutional investors.

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.