Rein Therapeutics Inc. (NASDAQ:RNTX) Short Interest Up 252.9% in April

Rein Therapeutics Inc. (NASDAQ:RNTX) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 835,368 shares, a growth of 252.9% from the April 15th total of 236,711 shares. Based on an average trading volume of 217,885 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

RNTX has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rein Therapeutics in a research report on Thursday, January 22nd. Citigroup downgraded Rein Therapeutics to a “hold” rating in a research report on Wednesday, January 21st. Finally, downgraded Rein Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.00.

Hedge Funds Weigh In On Rein Therapeutics

A number of hedge funds have recently modified their holdings of RNTX. Susquehanna International Group LLP acquired a new position in shares of Rein Therapeutics in the 3rd quarter worth approximately $35,000. HRT Financial LP acquired a new stake in Rein Therapeutics during the 4th quarter valued at $38,000. Chicago Partners Investment Group LLC increased its holdings in Rein Therapeutics by 32.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 41,048 shares of the company’s stock valued at $53,000 after purchasing an additional 10,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Rein Therapeutics during the 2nd quarter valued at $68,000. Finally, Jane Street Group LLC acquired a new stake in Rein Therapeutics during the 4th quarter valued at $72,000. 90.89% of the stock is owned by institutional investors and hedge funds.

Rein Therapeutics Price Performance

Shares of RNTX traded down $0.03 during mid-day trading on Thursday, reaching $1.13. The company had a trading volume of 341,159 shares, compared to its average volume of 387,368. Rein Therapeutics has a twelve month low of $1.00 and a twelve month high of $2.40. The company’s 50-day moving average is $1.38 and its 200-day moving average is $1.34. The company has a market capitalization of $31.69 million, a P/E ratio of -0.58 and a beta of 1.42.

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.