Reneo Pharmaceuticals (NASDAQ:RPHM) Trading 5.2% Higher – Here’s Why

by · The Cerbat Gem

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM – Get Free Report)’s stock price was up 5.2% on Wednesday . The stock traded as high as $1.90 and last traded at $1.82. Approximately 437,500 shares changed hands during mid-day trading, an increase of 75% from the average daily volume of 250,384 shares. The stock had previously closed at $1.73.

Reneo Pharmaceuticals Stock Performance

The stock has a market cap of $60.84 million, a P/E ratio of -0.84 and a beta of 0.21. The stock has a 50-day moving average price of $1.63 and a 200-day moving average price of $1.61.

Reneo Pharmaceuticals (NASDAQ:RPHM – Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.01. Sell-side analysts forecast that Reneo Pharmaceuticals, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at Reneo Pharmaceuticals

In other Reneo Pharmaceuticals news, major shareholder Braden Michael Leonard acquired 171,339 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $1.39 per share, with a total value of $238,161.21. Following the purchase, the insider now owns 2,843,533 shares of the company’s stock, valued at approximately $3,952,510.87. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders purchased 256,239 shares of company stock valued at $355,105. Insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Reneo Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in RPHM. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Reneo Pharmaceuticals during the second quarter valued at approximately $27,000. Marquette Asset Management LLC purchased a new stake in shares of Reneo Pharmaceuticals in the 1st quarter worth about $122,000. Nantahala Capital Management LLC bought a new stake in shares of Reneo Pharmaceuticals during the 2nd quarter valued at about $846,000. Finally, Highbridge Capital Management LLC increased its position in shares of Reneo Pharmaceuticals by 6.5% during the second quarter. Highbridge Capital Management LLC now owns 2,915,376 shares of the company’s stock valued at $4,402,000 after buying an additional 178,806 shares during the period. Institutional investors own 90.98% of the company’s stock.

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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