Short Interest in Rein Therapeutics Inc. (NASDAQ:RNTX) Drops By 52.5%

Rein Therapeutics Inc. (NASDAQ:RNTX) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 199,688 shares, a drop of 52.5% from the December 15th total of 420,743 shares. Based on an average trading volume of 267,208 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.8% of the shares of the company are sold short. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 267,208 shares, the days-to-cover ratio is presently 0.7 days.

Insider Activity at Rein Therapeutics

In other Rein Therapeutics news, major shareholder Voss Capital, Lp acquired 178,392 shares of Rein Therapeutics stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average cost of $1.39 per share, with a total value of $247,964.88. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 410,233 shares of company stock valued at $550,563 in the last quarter. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Blair William & Co. IL acquired a new stake in shares of Rein Therapeutics during the second quarter worth approximately $33,000. Chicago Partners Investment Group LLC bought a new position in Rein Therapeutics during the 2nd quarter valued at about $64,000. Exencial Wealth Advisors LLC acquired a new stake in Rein Therapeutics in the 2nd quarter valued at about $43,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Rein Therapeutics in the second quarter worth about $716,000. Finally, Sigma Planning Corp bought a new stake in Rein Therapeutics in the second quarter valued at approximately $387,000. 90.89% of the stock is owned by institutional investors and hedge funds.

Rein Therapeutics Stock Performance

NASDAQ:RNTX opened at $1.12 on Thursday. The stock has a market capitalization of $29.44 million, a P/E ratio of -0.43 and a beta of 1.31. Rein Therapeutics has a fifty-two week low of $1.02 and a fifty-two week high of $3.50. The company has a 50 day moving average price of $1.35 and a 200 day moving average price of $1.32.

Rein Therapeutics (NASDAQ:RNTX) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. Research analysts forecast that Rein Therapeutics will post -1.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RNTX has been the topic of several research analyst reports. Loop Capital set a $6.00 price objective on Rein Therapeutics in a research note on Monday, November 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rein Therapeutics in a report on Wednesday, October 8th. Brookline Capital Management raised Rein Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, November 3rd. HC Wainwright started coverage on Rein Therapeutics in a report on Monday, September 22nd. They set a “buy” rating and a $10.00 price target for the company. Finally, Wall Street Zen lowered Rein Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rein Therapeutics currently has an average rating of “Hold” and an average price target of $8.00.

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.