Reneo Pharmaceuticals (NASDAQ:RPHM) Shares Up 0.6%

Shares of Reneo Pharmaceuticals, Inc. (NASDAQ:RPHMGet Free Report) rose 0.6% during mid-day trading on Tuesday . The company traded as high as $1.71 and last traded at $1.71. Approximately 86,279 shares were traded during trading, a decline of 73% from the average daily volume of 318,690 shares. The stock had previously closed at $1.70.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. LADENBURG THALM/SH SH downgraded Reneo Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Thursday, December 14th. SVB Leerink reissued a “market perform” rating on shares of Reneo Pharmaceuticals in a research report on Friday, December 15th. Piper Sandler downgraded Reneo Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $4.00 in a research report on Thursday, December 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Reneo Pharmaceuticals in a research note on Friday, December 15th. Finally, HC Wainwright lowered shares of Reneo Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.14.

Get Our Latest Analysis on Reneo Pharmaceuticals

Reneo Pharmaceuticals Price Performance

The firm has a 50-day moving average of $1.65 and a 200 day moving average of $4.12. The stock has a market capitalization of $56.96 million, a price-to-earnings ratio of -0.68 and a beta of 0.24.

Institutional Investors Weigh In On Reneo Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RPHM. Eventide Asset Management LLC acquired a new position in Reneo Pharmaceuticals during the second quarter worth $11,480,000. BML Capital Management LLC bought a new position in shares of Reneo Pharmaceuticals in the 4th quarter valued at about $2,103,000. Highbridge Capital Management LLC acquired a new position in shares of Reneo Pharmaceuticals during the 4th quarter worth about $1,795,000. Great Point Partners LLC raised its holdings in shares of Reneo Pharmaceuticals by 796.3% in the 2nd quarter. Great Point Partners LLC now owns 1,083,317 shares of the company’s stock valued at $7,107,000 after purchasing an additional 962,453 shares during the period. Finally, Invesco Ltd. acquired a new stake in Reneo Pharmaceuticals in the 3rd quarter valued at about $3,422,000. Institutional investors own 90.98% of the company’s stock.

About Reneo Pharmaceuticals

(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. Its 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.

Further Reading

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