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

Shares of Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) have earned a consensus recommendation of “Reduce” from the eight analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $11.01.

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

Reneo Pharmaceuticals Trading Down 1.4 %

RPHM stock opened at $1.44 on Friday. The business’s 50-day moving average price is $1.57 and its two-hundred day moving average price is $1.64. The firm has a market cap of $48.12 million, a PE ratio of -0.66 and a beta of 0.19. Reneo Pharmaceuticals has a 1-year low of $0.98 and a 1-year high of $9.21.

Reneo Pharmaceuticals (NASDAQ:RPHM) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.12. On average, analysts forecast that Reneo Pharmaceuticals will post -0.83 earnings per share for the current year.

Insider Activity at Reneo Pharmaceuticals

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

Hedge Funds Weigh In On Reneo Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Marquette Asset Management LLC acquired a new position in Reneo Pharmaceuticals during the first quarter worth approximately $122,000. BML Capital Management LLC increased its position in Reneo Pharmaceuticals by 65.7% during the first quarter. BML Capital Management LLC now owns 2,177,913 shares of the company’s stock worth $3,615,000 after buying an additional 863,684 shares during the last quarter. Pale Fire Capital SE increased its position in Reneo Pharmaceuticals by 102.7% during the fourth quarter. Pale Fire Capital SE now owns 30,100 shares of the company’s stock worth $48,000 after buying an additional 15,249 shares during the last quarter. Vestal Point Capital LP acquired a new position in Reneo Pharmaceuticals during the fourth quarter worth approximately $640,000. Finally, Highbridge Capital Management LLC acquired a new position in Reneo Pharmaceuticals during the fourth quarter worth approximately $1,795,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

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.