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

Rein Therapeutics Inc. (NASDAQ:RNTX) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 424,338 shares, a decline of 49.2% from the April 30th total of 835,368 shares. Based on an average daily trading volume, of 2,261,318 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the company’s stock are sold short.

Rein Therapeutics Stock Performance

Shares of Rein Therapeutics stock traded down $0.04 during trading on Tuesday, hitting $1.04. 490,901 shares of the company’s stock were exchanged, compared to its average volume of 916,875. Rein Therapeutics has a 52-week low of $0.95 and a 52-week high of $2.18. The stock has a market capitalization of $88.53 million, a price-to-earnings ratio of -0.55 and a beta of 1.35. The business has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $1.30.

Rein Therapeutics (NASDAQ:RNTX) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.30. On average, equities analysts anticipate that Rein Therapeutics will post -1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RNTX has been the subject of several research analyst reports. Wall Street Zen raised shares of Rein Therapeutics to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright decreased their price target on shares of Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rein Therapeutics has a consensus rating of “Hold” and a consensus price target of $7.00.

Institutional Trading of Rein Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Sigma Planning Corp increased its holdings in Rein Therapeutics by 41.0% in the first quarter. Sigma Planning Corp now owns 348,677 shares of the company’s stock valued at $453,000 after buying an additional 101,400 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Rein Therapeutics by 32.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 41,048 shares of the company’s stock valued at $53,000 after acquiring an additional 10,000 shares during the period. State Street Corp increased its stake in shares of Rein Therapeutics by 374.3% in the 4th 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 in the last quarter. Voss Capital LP raised its holdings in Rein Therapeutics by 59.2% in the 4th quarter. Voss Capital LP now owns 4,243,969 shares of the company’s stock worth $4,923,000 after purchasing an additional 1,577,437 shares during the period. Finally, Gagnon Securities LLC boosted its position in Rein Therapeutics by 5.0% during the fourth quarter. Gagnon Securities LLC now owns 240,220 shares of the company’s stock worth $279,000 after purchasing an additional 11,528 shares in the last quarter. 90.89% of the stock is owned by hedge funds and other institutional investors.

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.