Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Short Interest Update

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM – Get Rating) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 334,900 shares, a growth of 32.5% from the April 15th total of 252,800 shares. Based on an average daily volume of 47,000 shares, the short-interest ratio is currently 7.1 days. Approximately 3.1% of the company’s stock are short sold.

NASDAQ:RPHM traded down $0.01 during trading hours on Wednesday, hitting $2.15. 152 shares of the company were exchanged, compared to its average volume of 83,456. The stock has a market capitalization of $52.59 million and a price-to-earnings ratio of -1.12. Reneo Pharmaceuticals has a 52-week low of $2.03 and a 52-week high of $12.78. The company’s 50 day moving average price is $2.81 and its 200-day moving average price is $5.54.

Reneo Pharmaceuticals (NASDAQ:RPHM – Get Rating) last released its earnings results on Wednesday, March 23rd. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.16. As a group, equities research analysts predict that Reneo Pharmaceuticals will post -2.5 EPS for the current year.

A number of brokerages have recently issued reports on RPHM. Zacks Investment Research raised shares of Reneo Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research report on Tuesday. Piper Sandler cut their price objective on shares of Reneo Pharmaceuticals from $45.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday. SVB Leerink reaffirmed an “outperform” rating on shares of Reneo Pharmaceuticals in a research report on Tuesday, May 10th. Finally, Robert W. Baird began coverage on shares of Reneo Pharmaceuticals in a research report on Wednesday, January 26th. They issued an “outperform” rating and a $28.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $22.71.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp lifted its stake in shares of Reneo Pharmaceuticals by 7.7% in the 1st quarter. Northern Trust Corp now owns 68,424 shares of the company’s stock valued at $201,000 after purchasing an additional 4,877 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Reneo Pharmaceuticals in the 1st quarter valued at $65,000. BlackRock Inc. lifted its stake in shares of Reneo Pharmaceuticals by 7.7% in the 4th quarter. BlackRock Inc. now owns 316,875 shares of the company’s stock valued at $2,709,000 after purchasing an additional 22,594 shares during the period. Wells Fargo & Company MN acquired a new position in shares of Reneo Pharmaceuticals in the 4th quarter valued at $68,000. Finally, Millennium Management LLC acquired a new position in shares of Reneo Pharmaceuticals in the 4th quarter valued at $214,000. Institutional investors and hedge funds own 79.53% of the company’s stock.

About Reneo Pharmaceuticals (Get Rating)

Reneo Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the development of therapies for patients with rare genetic mitochondrial diseases. It develops REN001, a selective peroxisome proliferator-activated receptor delta agonist, which is in Phase IIb clinical trial in patients with primary mitochondrial myopathies, as well as in Phase 1b clinical trial in patients with long-chain fatty acid oxidation disorders and glycogen storage disease type V.

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