Velan Capital Investment Management LP Invests $1.77 Million in Rein Therapeutics Inc. $RNTX

Velan Capital Investment Management LP purchased a new position in shares of Rein Therapeutics Inc. (NASDAQ:RNTX) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,700,000 shares of the company’s stock, valued at approximately $1,768,000. Rein Therapeutics comprises approximately 1.1% of Velan Capital Investment Management LP’s investment portfolio, making the stock its 19th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Susquehanna International Group LLP acquired a new position in Rein Therapeutics during the third quarter valued at approximately $35,000. HRT Financial LP acquired a new stake in shares of Rein Therapeutics in the 4th quarter valued at $38,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Rein Therapeutics by 32.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 41,048 shares of the company’s stock valued at $53,000 after purchasing an additional 10,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Rein Therapeutics in the 2nd quarter valued at $68,000. Finally, Jane Street Group LLC bought a new position in shares of Rein Therapeutics in the 4th quarter valued at $72,000. 90.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on RNTX. Weiss Ratings downgraded Rein Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Wall Street Zen upgraded Rein Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. HC Wainwright reissued a “buy” rating on shares of Rein Therapeutics in a research note on Tuesday, August 18th. Finally, Maxim Group began coverage on shares of Rein Therapeutics in a report 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Rein Therapeutics presently has a consensus rating of “Hold” and an average price target of $6.00.

Rein Therapeutics Trading Up 0.4%

Shares of RNTX stock opened at $0.75 on Wednesday. The business’s 50-day moving average price is $0.85 and its 200-day moving average price is $1.10. Rein Therapeutics Inc. has a 12 month low of $0.69 and a 12 month high of $2.18. The firm has a market capitalization of $64.94 million, a price-to-earnings ratio of -0.44 and a beta of 1.37.

Rein Therapeutics (NASDAQ:RNTX) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.17. On average, sell-side analysts predict that Rein Therapeutics Inc. will post -0.47 earnings per share for the current fiscal year.

About Rein Therapeutics

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.