Brokerages Set Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Price Target at $11.01

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) has received an average rating of “Reduce” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.01.

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $1.50 price objective on shares of Reneo Pharmaceuticals in a research note on Tuesday, May 14th.

Reneo Pharmaceuticals Price Performance

Reneo Pharmaceuticals stock opened at $1.50 on Wednesday. The firm has a fifty day simple moving average of $1.66 and a two-hundred day simple moving average of $1.66. Reneo Pharmaceuticals has a twelve month low of $0.98 and a twelve month high of $9.21.

Reneo Pharmaceuticals (NASDAQ:RPHM) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.12. As a group, research analysts anticipate that Reneo Pharmaceuticals will post -0.83 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Braden Michael Leonard purchased 414,281 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $1.54 per share, with a total value of $637,992.74. Following the completion of the purchase, the insider now directly owns 2,672,194 shares in the company, valued at $4,115,178.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Reneo Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Reneo Pharmaceuticals in the fourth quarter worth about $35,000. Jump Financial LLC purchased a new stake in Reneo Pharmaceuticals in the fourth quarter worth about $41,000. Pale Fire Capital SE grew its holdings in Reneo Pharmaceuticals by 102.7% in the fourth quarter. Pale Fire Capital SE now owns 30,100 shares of the company’s stock worth $48,000 after purchasing an additional 15,249 shares during the period. Marquette Asset Management LLC purchased a new stake in Reneo Pharmaceuticals in the first quarter worth about $122,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Reneo Pharmaceuticals in the third quarter worth about $495,000. 90.98% of the stock is owned by institutional investors.

About Reneo Pharmaceuticals

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.