Rein Therapeutics Inc. (NASDAQ:RNTX) Short Interest Down 49.2% in May

Rein Therapeutics Inc. (NASDAQ:RNTX) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totaling 424,338 shares, a decline of 49.2% from the April 30th total of 835,368 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 2,261,318 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on RNTX. HC Wainwright cut their price objective on shares of Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday. Wall Street Zen raised shares of Rein Therapeutics to a “sell” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.00.

Hedge Funds Weigh In On Rein Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RNTX. Voss Capital LP increased its holdings in shares of Rein Therapeutics by 59.2% in the fourth quarter. Voss Capital LP now owns 4,243,969 shares of the company’s stock valued at $4,923,000 after purchasing an additional 1,577,437 shares during the last quarter. Cable Car Capital LP acquired a new position in shares of Rein Therapeutics in the second quarter valued at $588,000. Vanguard Group Inc. increased its holdings in shares of Rein Therapeutics by 32.2% in the third quarter. Vanguard Group Inc. now owns 1,168,407 shares of the company’s stock valued at $1,338,000 after purchasing an additional 284,300 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Rein Therapeutics in the second quarter valued at $344,000. Finally, Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Rein Therapeutics by 901.6% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 262,125 shares of the company’s stock valued at $304,000 after purchasing an additional 235,954 shares during the last quarter. 90.89% of the stock is currently owned by institutional investors and hedge funds.

Rein Therapeutics Price Performance

NASDAQ RNTX traded down $0.05 on Monday, hitting $1.06. 304,965 shares of the stock were exchanged, compared to its average volume of 398,996. The business’s fifty day moving average is $1.32 and its 200 day moving average is $1.30. Rein Therapeutics has a 52 week low of $0.95 and a 52 week high of $2.18. The company has a market capitalization of $90.67 million, a PE ratio of -0.56 and a beta of 1.35.

Rein Therapeutics (NASDAQ:RNTX) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.30. Analysts predict that Rein Therapeutics will post -1.63 EPS for the current fiscal year.

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.