Rein Therapeutics (NASDAQ:RNTX) Trading Down 2.9% – What’s Next?

Shares of Rein Therapeutics Inc. (NASDAQ:RNTX) dropped 2.9% during trading on Monday . The company traded as low as $0.7593 and last traded at $0.7940. Approximately 398,835 shares were traded during trading, a decline of 12% from the average daily volume of 453,314 shares. The stock had previously closed at $0.8175.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. HC Wainwright decreased their price objective 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. Weiss Ratings raised shares of Rein Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Maxim Group initiated coverage on shares of Rein Therapeutics in a research note on Monday, July 20th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Rein Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Rein Therapeutics Price Performance

The company has a market capitalization of $68.86 million, a price-to-earnings ratio of -0.42 and a beta of 1.39. The business’s 50-day moving average price is $0.90 and its two-hundred day moving average price is $1.15.

Rein Therapeutics (NASDAQ:RNTX) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.30. As a group, research analysts predict that Rein Therapeutics Inc. will post -0.53 EPS for the current year.

Institutional Trading of Rein Therapeutics

Several large investors have recently modified their holdings of the stock. Chicago Partners Investment Group LLC grew its stake in Rein Therapeutics by 32.2% during the first 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 in the last quarter. Gagnon Securities LLC increased its holdings 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 period. Susquehanna International Group LLP acquired a new position in shares of Rein Therapeutics in the 3rd quarter valued at approximately $35,000. HRT Financial LP acquired a new position in shares of Rein Therapeutics in the 4th quarter valued at approximately $38,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Rein Therapeutics by 15.1% during the 4th quarter. Geode Capital Management LLC now owns 284,555 shares of the company’s stock worth $330,000 after acquiring an additional 37,244 shares during the period. 90.89% of the stock is owned by institutional investors and hedge funds.

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.