BML Capital Management LLC Makes New Investment in Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM)

BML Capital Management LLC bought a new position in Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,314,229 shares of the company’s stock, valued at approximately $2,103,000. Reneo Pharmaceuticals makes up approximately 1.6% of BML Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. BML Capital Management LLC owned about 3.95% of Reneo Pharmaceuticals at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dorsey Wright & Associates bought a new stake in Reneo Pharmaceuticals in the third quarter worth approximately $28,000. Pale Fire Capital SE bought a new stake in Reneo Pharmaceuticals in the third quarter worth approximately $113,000. SG Americas Securities LLC bought a new stake in Reneo Pharmaceuticals in the fourth quarter worth approximately $35,000. Bank of New York Mellon Corp grew its stake in Reneo Pharmaceuticals by 13.1% in the third quarter. Bank of New York Mellon Corp now owns 35,963 shares of the company’s stock valued at $274,000 after acquiring an additional 4,165 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Reneo Pharmaceuticals in the third quarter valued at approximately $495,000. 90.98% of the stock is currently owned by institutional investors.

Reneo Pharmaceuticals Price Performance

Shares of Reneo Pharmaceuticals stock opened at $1.68 on Wednesday. Reneo Pharmaceuticals, Inc. has a 52 week low of $0.98 and a 52 week high of $10.98. The stock has a 50 day moving average price of $1.66 and a two-hundred day moving average price of $3.52.

Reneo Pharmaceuticals (NASDAQ:RPHM) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.15). As a group, sell-side analysts predict that Reneo Pharmaceuticals, Inc. will post -0.85 earnings per share for the current year.

Reneo Pharmaceuticals Profile

Reneo Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases. The company's lead product candidate is REN001, a potent and selective agonist of the peroxisome proliferator-activated receptor delta that is in clinical development for genetic mitochondrial diseases comprising primary mitochondrial myopathies and long-chain fatty acid oxidation disorders.