Rein Therapeutics Inc. (NASDAQ:RNTX) Short Interest Update

Rein Therapeutics Inc. (NASDAQ:RNTX) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 898,096 shares, an increase of 187.6% from the June 15th total of 312,225 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 804,191 shares, the short-interest ratio is presently 1.1 days.

Rein Therapeutics Trading Down 7.4%

Shares of NASDAQ RNTX traded down $0.07 during midday trading on Monday, reaching $0.91. The company’s stock had a trading volume of 641,376 shares, compared to its average volume of 438,523. Rein Therapeutics has a one year low of $0.86 and a one year high of $2.18. The company has a market cap of $77.63 million, a price-to-earnings ratio of -0.48 and a beta of 1.35. The company has a 50 day moving average price of $1.02 and a 200 day moving average price of $1.21.

Rein Therapeutics (NASDAQ:RNTX) last issued its earnings results on Friday, May 15th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.30. Research analysts anticipate that Rein Therapeutics will post -0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rein Therapeutics in a research report on Friday, June 26th. Finally, HC Wainwright dropped their price objective on Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. One investment analyst has 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 an average price target of $7.00.

Hedge Funds Weigh In On Rein Therapeutics

Hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new stake in shares of Rein Therapeutics during the third quarter worth $35,000. HRT Financial LP purchased a new position in Rein Therapeutics in the 4th quarter worth about $38,000. Chicago Partners Investment Group LLC increased its stake in Rein Therapeutics by 32.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 41,048 shares of the company’s stock worth $53,000 after purchasing an additional 10,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Rein Therapeutics in the 2nd quarter worth about $68,000. Finally, Jane Street Group LLC acquired a new stake in Rein Therapeutics during the 4th quarter worth about $72,000. 90.89% of the stock is currently owned by institutional investors and hedge funds.

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.