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

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

Rein Therapeutics Trading Down 7.4%

Shares of RNTX stock traded down $0.10 during trading on Friday, reaching $1.25. 339,625 shares of the company’s stock traded hands, compared to its average volume of 2,587,188. Rein Therapeutics has a 1 year low of $1.04 and a 1 year high of $3.50. The company has a market capitalization of $29.14 million, a P/E ratio of -0.46 and a beta of 1.15. The firm’s 50-day moving average is $1.31 and its 200 day moving average is $1.48.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RNTX. Loop Capital set a $6.00 price target on shares of Rein Therapeutics in a research report on Monday, November 3rd. Brookline Capital Management raised Rein Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, November 3rd. HC Wainwright began coverage on shares of Rein Therapeutics in a research note on Monday, September 22nd. They issued a “buy” rating and a $10.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rein Therapeutics in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rein Therapeutics presently has an average rating of “Hold” and an average price target of $8.00.

Insider Activity at Rein Therapeutics

In related news, major shareholder Voss Capital, Lp acquired 178,392 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price of $1.39 per share, with a total value of $247,964.88. Following the acquisition, the insider owned 500,000 shares of the company’s stock, valued at approximately $695,000. This trade represents a 55.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders acquired 306,050 shares of company stock valued at $423,460 over the last three months. 5.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

About Rein Therapeutics

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.