According to Zacks, “Reneo Pharmaceuticals Inc.is a clinical stage pharmaceutical company. It is focused on the development and commercialization of therapies for patients with rare, genetic, mitochondrial diseases. Reneo Pharmaceuticals Inc.is based in SAN DIEGO. “
Other equities analysts have also recently issued research reports about the company. LADENBURG THALM/SH SH assumed coverage on Reneo Pharmaceuticals in a report on Monday, November 22nd. They set a buy rating and a $45.00 price objective for the company. HC Wainwright initiated coverage on Reneo Pharmaceuticals in a research note on Tuesday, December 21st. They set a buy rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $33.40.
Reneo Pharmaceuticals (NASDAQ:RPHM) last announced its earnings results on Thursday, November 11th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.05). As a group, research analysts forecast that Reneo Pharmaceuticals will post -3.44 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rock Springs Capital Management LP boosted its position in shares of Reneo Pharmaceuticals by 1.3% during the third quarter. Rock Springs Capital Management LP now owns 1,143,185 shares of the company’s stock worth $8,517,000 after buying an additional 14,161 shares during the period. Geode Capital Management LLC raised its stake in Reneo Pharmaceuticals by 67.4% in the third quarter. Geode Capital Management LLC now owns 120,668 shares of the company’s stock valued at $898,000 after buying an additional 48,599 shares in the last quarter. BlackRock Inc. raised its stake in Reneo Pharmaceuticals by 1.5% in the third quarter. BlackRock Inc. now owns 294,281 shares of the company’s stock valued at $2,191,000 after buying an additional 4,457 shares in the last quarter. Morgan Stanley acquired a new stake in Reneo Pharmaceuticals in the second quarter valued at $291,000. Finally, Caas Capital Management LP acquired a new stake in Reneo Pharmaceuticals in the second quarter valued at $187,000. Institutional investors and hedge funds own 75.22% of the company’s stock.
Reneo Pharmaceuticals Company Profile
Reneo Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the development of therapies for patients with rare genetic mitochondrial diseases. It develops REN001, a selective peroxisome proliferator-activated receptor delta agonist, which is in Phase IIb clinical trial in patients with primary mitochondrial myopathies, as well as in Phase 1b clinical trial in patients with long-chain fatty acid oxidation disorders and glycogen storage disease type V.
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