Rein Therapeutics (NASDAQ:RNTX) Shares Up 9.6% – Still a Buy?

Rein Therapeutics Inc. (NASDAQ:RNTX) shares traded up 9.6% during trading on Tuesday. The stock traded as high as $0.81 and last traded at $0.79. Approximately 388,369 shares changed hands during trading, an increase of 9% from the average daily volume of 357,806 shares. The stock had previously closed at $0.7210.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RNTX shares. Wall Street Zen raised Rein Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings cut Rein Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. HC Wainwright reaffirmed a “buy” rating on shares of Rein Therapeutics in a report on Tuesday, August 18th. Finally, Maxim Group began coverage on shares of Rein Therapeutics in a research report on Monday, July 20th. They issued a “buy” rating and a $4.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.00.

Rein Therapeutics Stock Up 9.6%

The stock has a market capitalization of $68.15 million, a PE ratio of -0.46 and a beta of 1.37. The firm’s fifty day moving average is $0.79 and its 200-day moving average is $1.04.

Rein Therapeutics (NASDAQ:RNTX) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.17. On average, analysts expect that Rein Therapeutics Inc. will post -0.47 EPS for the current year.

Institutional Trading of Rein Therapeutics

Several hedge funds have recently modified their holdings of RNTX. Velan Capital Investment Management LP purchased a new stake in shares of Rein Therapeutics in the second quarter valued at approximately $1,768,000. Voss Capital LP grew its holdings in Rein Therapeutics by 59.2% during the fourth quarter. Voss Capital LP now owns 4,243,969 shares of the company’s stock worth $4,923,000 after acquiring an additional 1,577,437 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Rein Therapeutics in the second quarter worth $260,000. Sigma Planning Corp raised its position in Rein Therapeutics by 41.0% in the first quarter. Sigma Planning Corp now owns 348,677 shares of the company’s stock worth $453,000 after acquiring an additional 101,400 shares in the last quarter. Finally, Gagnon Securities LLC lifted its holdings in Rein Therapeutics by 5.0% in the fourth quarter. Gagnon Securities LLC now owns 240,220 shares of the company’s stock valued at $279,000 after acquiring an additional 11,528 shares during the period. 90.89% of the stock is owned by institutional investors and hedge funds.

About Rein Therapeutics

Rein Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for serious diseases with significant unmet medical needs. The company’s research and development activities are centered on fibrotic diseases, in which excessive scar tissue can impair the function of organs and lead to progressive illness.

Rein Therapeutics’ lead investigational program is RNTX-001, an experimental therapy being developed for pulmonary fibrosis and potentially other fibrotic conditions.