Rein Therapeutics (NASDAQ:RNTX) Announces Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Rein Therapeutics (NASDAQ:RNTX) issued its quarterly earnings data on Friday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.17, Zacks reports.

Rein Therapeutics Stock Up 2.3%

Shares of Rein Therapeutics stock opened at $0.81 on Friday. The firm’s 50-day moving average price is $0.89 and its two-hundred day moving average price is $1.14. The company has a market capitalization of $68.95 million, a price-to-earnings ratio of -0.47 and a beta of 1.39. Rein Therapeutics has a 12-month low of $0.69 and a 12-month high of $2.18.

Institutional Investors Weigh In On Rein Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP acquired a new position in Rein Therapeutics in the 3rd quarter valued at approximately $35,000. HRT Financial LP bought a new stake in shares of Rein Therapeutics in the fourth quarter worth $38,000. Northwestern Mutual Wealth Management Co. bought a new position in Rein Therapeutics during the 2nd quarter worth $68,000. Jane Street Group LLC acquired a new stake in shares of Rein Therapeutics in the fourth quarter valued at about $72,000. Finally, State Street Corp raised its position in shares of Rein Therapeutics by 374.3% during the fourth quarter. State Street Corp now owns 75,904 shares of the company’s stock worth $88,000 after acquiring an additional 59,900 shares during the last quarter. 90.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on RNTX. Weiss Ratings raised Rein Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. HC Wainwright lowered their target price on shares of Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Maxim Group started coverage on Rein Therapeutics in a report on Monday, July 20th. They set a “buy” rating and a $4.00 price target for the company. Finally, Wall Street Zen upgraded Rein Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rein Therapeutics has an average rating of “Hold” and a consensus target price of $6.00.

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.