Rein Therapeutics (NASDAQ:RNTX) Shares Down 1.8% – Here’s Why

Rein Therapeutics Inc. (NASDAQ:RNTX)’s share price traded down 1.8% during trading on Friday . The stock traded as low as $0.9410 and last traded at $0.98. 148,430 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 579,701 shares. The stock had previously closed at $0.9978.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RNTX shares. HC Wainwright dropped 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. Wall Street Zen upgraded Rein Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rein Therapeutics in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

Rein Therapeutics Price Performance

The business has a 50 day simple moving average of $1.02 and a 200 day simple moving average of $1.21. The stock has a market cap of $83.83 million, a PE ratio of -0.52 and a beta of 1.35.

Rein Therapeutics (NASDAQ:RNTX) last announced 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, sell-side analysts forecast that Rein Therapeutics Inc. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rein Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sigma Planning Corp raised its position in shares of Rein Therapeutics by 41.0% in the first quarter. Sigma Planning Corp now owns 348,677 shares of the company’s stock valued at $453,000 after purchasing an additional 101,400 shares during the period. Chicago Partners Investment Group LLC boosted its holdings 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 worth $53,000 after buying an additional 10,000 shares during the period. State Street Corp boosted its holdings in shares of Rein Therapeutics by 374.3% during the 4th quarter. State Street Corp now owns 75,904 shares of the company’s stock worth $88,000 after buying an additional 59,900 shares during the period. Voss Capital LP grew its stake in Rein Therapeutics by 59.2% in the 4th quarter. Voss Capital LP now owns 4,243,969 shares of the company’s stock valued at $4,923,000 after buying an additional 1,577,437 shares during the last quarter. Finally, Gagnon Securities LLC grew its stake in Rein Therapeutics by 5.0% in the 4th quarter. Gagnon Securities LLC now owns 240,220 shares of the company’s stock valued at $279,000 after buying an additional 11,528 shares during the last quarter. Institutional investors and hedge funds 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.