Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Receives Consensus Rating of “Reduce” from Analysts

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHMGet Free Report) has received an average recommendation of “Reduce” from the eight research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $11.01.

Separately, HC Wainwright reaffirmed a “neutral” rating and issued a $1.50 target price on shares of Reneo Pharmaceuticals in a report on Tuesday, May 14th.

Check Out Our Latest Report on RPHM

Reneo Pharmaceuticals Stock Performance

Shares of NASDAQ RPHM opened at $1.90 on Tuesday. The stock has a 50 day moving average price of $1.69 and a 200 day moving average price of $2.68. The stock has a market capitalization of $63.50 million, a PE ratio of -0.88 and a beta of 0.22. Reneo Pharmaceuticals has a 52 week low of $0.98 and a 52 week high of $9.45.

Reneo Pharmaceuticals (NASDAQ:RPHMGet Free Report) last released its earnings results on Thursday, March 28th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.15). As a group, research analysts forecast that Reneo Pharmaceuticals will post -0.83 EPS for the current year.

Insider Activity

In related news, major shareholder Braden Michael Leonard bought 414,281 shares of Reneo Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of $1.54 per share, with a total value of $637,992.74. Following the acquisition, the insider now owns 2,672,194 shares of the company’s stock, valued at approximately $4,115,178.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BML Capital Management LLC bought a new stake in shares of Reneo Pharmaceuticals in the fourth quarter valued at about $2,103,000. Highbridge Capital Management LLC bought a new stake in Reneo Pharmaceuticals in the 4th quarter valued at about $1,795,000. Vestal Point Capital LP acquired a new position in shares of Reneo Pharmaceuticals during the 4th quarter worth approximately $640,000. Eventide Asset Management LLC increased its holdings in shares of Reneo Pharmaceuticals by 18.8% during the third quarter. Eventide Asset Management LLC now owns 2,078,142 shares of the company’s stock worth $15,825,000 after purchasing an additional 328,142 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in shares of Reneo Pharmaceuticals in the first quarter valued at approximately $122,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Reneo Pharmaceuticals Company Profile

(Get Free Report

Reneo Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases. The company's lead product candidate is REN001, a potent and selective agonist of the peroxisome proliferator-activated receptor delta that is in clinical development for genetic mitochondrial diseases comprising primary mitochondrial myopathies and long-chain fatty acid oxidation disorders.

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Analyst Recommendations for Reneo Pharmaceuticals (NASDAQ:RPHM)

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