Rein Therapeutics (NASDAQ:RNTX) Announces Earnings Results

Rein Therapeutics (NASDAQ:RNTX) released its quarterly earnings results on Friday. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.17, Zacks reports.

Rein Therapeutics Stock Up 2.3%

Rein Therapeutics stock traded up $0.02 during mid-day trading on Friday, reaching $0.81. The company’s stock had a trading volume of 211,019 shares, compared to its average volume of 424,245. Rein Therapeutics has a 12 month low of $0.69 and a 12 month high of $2.18. The business’s 50 day simple moving average is $0.89 and its 200 day simple moving average is $1.14.

Institutional Investors Weigh In On Rein Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNTX. Susquehanna International Group LLP bought a new position in shares of Rein Therapeutics in the 3rd quarter valued at about $35,000. HRT Financial LP bought a new stake in Rein Therapeutics during the fourth quarter worth about $38,000. Northwestern Mutual Wealth Management Co. bought a new stake in Rein Therapeutics during the second quarter worth about $68,000. Jane Street Group LLC acquired a new position in Rein Therapeutics during the fourth quarter valued at approximately $72,000. Finally, State Street Corp boosted its position in Rein Therapeutics by 374.3% during the fourth quarter. State Street Corp now owns 75,904 shares of the company’s stock valued at $88,000 after purchasing an additional 59,900 shares during the last quarter. 90.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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