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

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

Rein Therapeutics Trading Down 7.4%

Shares of RNTX stock traded down $0.10 during trading hours on Friday, hitting $1.25. 339,625 shares of the company were exchanged, compared to its average volume of 2,587,188. The stock has a market capitalization of $29.14 million, a price-to-earnings ratio of -0.46 and a beta of 1.15. The firm has a fifty day simple moving average of $1.31 and a 200 day simple moving average of $1.48. Rein Therapeutics has a 52-week low of $1.04 and a 52-week high of $3.50.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HC Wainwright started coverage on shares of Rein Therapeutics in a research report on Monday, September 22nd. They set a “buy” rating and a $10.00 target price on the stock. Brookline Capital Management upgraded Rein Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Rein Therapeutics in a research note on Wednesday, October 8th. Finally, Loop Capital set a $6.00 target price on Rein Therapeutics in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Rein Therapeutics currently has a consensus rating of “Hold” and an average price target of $8.00.

Insiders Place Their Bets

In other news, major shareholder Voss Capital, Lp bought 178,392 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $1.39 per share, with a total value of $247,964.88. Following the completion of the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at $695,000. This represents a 55.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 306,050 shares of company stock worth $423,460 over the last three months. 5.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RNTX. Northwestern Mutual Wealth Management Co. bought a new position in shares of Rein Therapeutics during the 2nd quarter worth $68,000. Geode Capital Management LLC bought a new stake in Rein Therapeutics in the 2nd quarter valued at about $344,000. Vanguard Group Inc. raised its stake in Rein Therapeutics by 32.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,168,407 shares of the company’s stock valued at $1,338,000 after acquiring an additional 284,300 shares during the period. Finally, Cable Car Capital LP purchased a new stake in Rein Therapeutics during the second quarter valued at about $588,000. Hedge funds and other institutional investors own 90.89% of the company’s stock.

Rein Therapeutics Company Profile

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.