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

Rein Therapeutics (NASDAQ:RNTX) released its earnings results on Friday. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.17, Zacks reports.

Rein Therapeutics Price Performance

Shares of RNTX traded up $0.02 during trading hours on Friday, hitting $0.81. The company had a trading volume of 211,019 shares, compared to its average volume of 424,245. The business has a fifty day moving average of $0.89 and a 200-day moving average of $1.14. Rein Therapeutics has a 12 month low of $0.69 and a 12 month high of $2.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP acquired a new position in Rein Therapeutics in the 3rd quarter valued at about $35,000. HRT Financial LP acquired a new stake in Rein Therapeutics during the fourth quarter worth approximately $38,000. Geode Capital Management LLC boosted its holdings in shares of Rein Therapeutics by 15.1% during the fourth quarter. Geode Capital Management LLC now owns 284,555 shares of the company’s stock worth $330,000 after acquiring an additional 37,244 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Rein Therapeutics during the second quarter worth approximately $68,000. Finally, State Street Corp grew its position in shares of Rein Therapeutics by 374.3% in the fourth quarter. State Street Corp now owns 75,904 shares of the company’s stock valued at $88,000 after purchasing an additional 59,900 shares during the last quarter. Institutional investors and hedge funds own 90.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RNTX. Wall Street Zen upgraded shares of Rein Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. HC Wainwright lowered 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 note on Monday, June 1st. Weiss Ratings raised shares of Rein Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Finally, Maxim Group initiated coverage on shares of Rein Therapeutics in a research note on Monday, July 20th. They issued a “buy” rating and a $4.00 target price for the company. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.