Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Receives $11.01 Average PT from Brokerages

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) has been given an average recommendation of “Reduce” by the eight research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.01.

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

Insider Buying and Selling

In related news, major shareholder Braden Michael Leonard purchased 414,281 shares of Reneo Pharmaceuticals 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 directly owns 2,672,194 shares of the company’s stock, valued at approximately $4,115,178.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Reneo Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in RPHM. BML Capital Management LLC acquired a new stake in Reneo Pharmaceuticals during the fourth quarter worth approximately $2,103,000. Highbridge Capital Management LLC bought a new stake in Reneo Pharmaceuticals during the fourth quarter worth $1,795,000. Vestal Point Capital LP bought a new stake in Reneo Pharmaceuticals during the fourth quarter worth $640,000. Marquette Asset Management LLC bought a new stake in Reneo Pharmaceuticals during the first quarter worth $122,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Reneo Pharmaceuticals during the third quarter worth $495,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Reneo Pharmaceuticals Stock Performance

NASDAQ:RPHM opened at $1.50 on Wednesday. The stock’s 50 day moving average price is $1.66 and its two-hundred day moving average price is $1.66. Reneo Pharmaceuticals has a 12-month low of $0.98 and a 12-month high of $9.21.

Reneo Pharmaceuticals (NASDAQ:RPHM) last released its quarterly earnings data 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. Equities analysts predict that Reneo Pharmaceuticals will post -0.83 EPS for the current fiscal year.

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.