Rein Therapeutics (NASDAQ:RNTX) Releases Earnings Results, Beats Estimates By $0.03 EPS

Rein Therapeutics (NASDAQ:RNTX) posted its quarterly earnings results on Friday. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03, Zacks reports.

Rein Therapeutics Trading Down 7.4%

Shares of NASDAQ:RNTX opened at $1.25 on Friday. The stock has a market capitalization of $29.13 million, a PE ratio of -0.48 and a beta of 1.15. The firm has a fifty day moving average price of $1.31 and a 200 day moving average price of $1.47. Rein Therapeutics has a 1 year low of $1.04 and a 1 year high of $3.50.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Brookline Capital Management raised Rein Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rein Therapeutics in a research report on Wednesday, October 8th. Loop Capital set a $6.00 price objective on shares of Rein Therapeutics in a research note on Monday, November 3rd. Finally, HC Wainwright assumed coverage on shares of Rein Therapeutics in a research note on Monday, September 22nd. They set a “buy” rating and a $10.00 target price for the company. Two investment 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 stock has a consensus rating of “Hold” and an average price target of $8.00.

Insider Transactions at Rein Therapeutics

In related news, major shareholder Voss Capital, Lp purchased 178,392 shares of the stock in a transaction on Tuesday, October 28th. The shares were bought at an average price of $1.39 per share, for a total transaction of $247,964.88. Following the completion of the acquisition, the insider directly owned 500,000 shares in the company, valued at approximately $695,000. This trade represents a 55.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 306,050 shares of company stock worth $423,460 over the last three months. 5.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rein Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Cable Car Capital LP bought a new position in Rein Therapeutics in the 2nd quarter worth approximately $588,000. Vanguard Group Inc. raised its stake in Rein Therapeutics by 32.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,168,407 shares of the company’s stock valued at $1,338,000 after purchasing an additional 284,300 shares during the last quarter. Geode Capital Management LLC bought a new stake in Rein Therapeutics in the 2nd quarter valued at $344,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Rein Therapeutics in the 2nd quarter worth $68,000. 90.89% of the stock is currently owned by institutional investors.

About Rein Therapeutics

Rein Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of a novel class of therapeutics for the treatment of cancer and other diseases. It focuses on its lead product candidate, ALRN-6924, which is a cell-permeating peptide that disrupts the interaction of p53 suppressors MDM2 and MDMX with tumor suppressor p53 to reactivate tumor suppression in non-mutant, or wild-type, p53 cancers.