Rein Therapeutics (NASDAQ:RNTX) Issues Earnings Results

Rein Therapeutics (NASDAQ:RNTX) issued its quarterly earnings data on Friday. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.17, Zacks reports.

Rein Therapeutics Trading Up 2.3%

NASDAQ:RNTX traded up $0.02 during trading hours on Friday, hitting $0.81. 211,019 shares of the stock were exchanged, compared to its average volume of 424,245. Rein Therapeutics has a 52-week low of $0.69 and a 52-week high of $2.18. The firm’s fifty day moving average price is $0.89 and its 200 day moving average price is $1.14. The company has a market cap of $68.94 million, a P/E ratio of -0.42 and a beta of 1.39.

Hedge Funds Weigh In On Rein Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Rein Therapeutics by 32.2% during the third quarter. Vanguard Group Inc. now owns 1,168,407 shares of the company’s stock worth $1,338,000 after purchasing an additional 284,300 shares in the last quarter. Cable Car Capital LP purchased a new position in Rein Therapeutics in the 2nd quarter valued at $588,000. Geode Capital Management LLC lifted its holdings in 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 in the last quarter. State Street Corp boosted its stake in Rein Therapeutics by 374.3% during the 4th quarter. State Street Corp now owns 75,904 shares of the company’s stock worth $88,000 after purchasing an additional 59,900 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Rein Therapeutics during the 4th quarter worth $72,000. Hedge funds and other institutional investors own 90.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RNTX. Maxim Group assumed coverage on Rein Therapeutics in a report on Monday, July 20th. They issued a “buy” rating and a $4.00 price target for the company. Wall Street Zen raised Rein Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. HC Wainwright reduced their target price on Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Finally, Weiss Ratings raised shares of Rein Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rein Therapeutics has a consensus rating of “Hold” and an average price target of $6.00.

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.