Rein Therapeutics Inc. (NASDAQ:RNTX) Sees Significant Growth in Short Interest

Rein Therapeutics Inc. (NASDAQ:RNTX) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 898,096 shares, a growth of 187.6% from the June 15th total of 312,225 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average trading volume of 804,191 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RNTX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rein Therapeutics in a research note on Friday, June 26th. HC Wainwright cut their price target on shares of Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, June 1st. Finally, Wall Street Zen raised shares of Rein Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rein Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Institutional Trading of Rein Therapeutics

A number of large investors have recently made changes to their positions in the company. Voss Capital LP boosted its stake in shares of Rein Therapeutics by 59.2% during the fourth quarter. Voss Capital LP now owns 4,243,969 shares of the company’s stock worth $4,923,000 after buying an additional 1,577,437 shares during the period. Vanguard Group Inc. increased its position in Rein Therapeutics by 32.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,168,407 shares of the company’s stock valued at $1,338,000 after acquiring an additional 284,300 shares during the period. Cable Car Capital LP purchased a new stake in Rein Therapeutics during the 2nd quarter valued at approximately $588,000. Sigma Planning Corp lifted its position in Rein Therapeutics by 41.0% during 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, Geode Capital Management LLC grew its stake in shares of Rein Therapeutics by 15.1% in the 4th quarter. Geode Capital Management LLC now owns 284,555 shares of the company’s stock valued at $330,000 after purchasing an additional 37,244 shares during the last quarter. 90.89% of the stock is owned by institutional investors and hedge funds.

Rein Therapeutics Stock Performance

Shares of NASDAQ:RNTX traded up $0.01 during trading on Tuesday, hitting $0.92. The company’s stock had a trading volume of 340,719 shares, compared to its average volume of 437,636. Rein Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $2.18. The business has a 50 day moving average price of $1.01 and a two-hundred day moving average price of $1.21. The company has a market capitalization of $78.70 million, a PE ratio of -0.48 and a beta of 1.35.

Rein Therapeutics (NASDAQ:RNTX) last released its 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, equities analysts expect that Rein Therapeutics will post -0.53 earnings per share for the current fiscal year.

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.