Rein Therapeutics Inc. (NASDAQ:RNTX) Short Interest Update

Rein Therapeutics Inc. (NASDAQ:RNTX) was the recipient of a large growth in short interest in 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. Based on an average daily volume of 804,191 shares, the short-interest ratio is currently 1.1 days. Approximately 1.1% of the company’s shares are short sold.

Rein Therapeutics Stock Performance

Shares of NASDAQ RNTX traded down $0.07 during mid-day trading on Monday, reaching $0.91. The company had a trading volume of 641,376 shares, compared to its average volume of 438,523. The stock has a fifty day moving average of $1.02 and a two-hundred day moving average of $1.21. The company has a market capitalization of $77.63 million, a price-to-earnings ratio of -0.48 and a beta of 1.35. Rein Therapeutics has a 12-month low of $0.86 and a 12-month high of $2.18.

Rein Therapeutics (NASDAQ:RNTX) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.30. Sell-side analysts forecast that Rein Therapeutics will post -0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on RNTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rein Therapeutics in a research report on Friday, June 26th. HC Wainwright decreased their target price on Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, Wall Street Zen upgraded Rein Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.00.

Hedge Funds Weigh In On Rein Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Voss Capital LP increased its stake in shares of Rein Therapeutics by 59.2% in the fourth quarter. Voss Capital LP now owns 4,243,969 shares of the company’s stock worth $4,923,000 after acquiring an additional 1,577,437 shares during the last quarter. Vanguard Group Inc. boosted its position in Rein Therapeutics by 32.2% during the third 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. Cable Car Capital LP acquired a new stake in Rein Therapeutics during the second quarter valued at $588,000. Sigma Planning Corp boosted its position in Rein Therapeutics by 41.0% during 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 last quarter. Finally, Geode Capital Management LLC grew its stake in Rein Therapeutics by 15.1% in the fourth 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 in the last quarter. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

About Rein Therapeutics

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.