Brokerages Set Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) PT at $11.01

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) has earned an average rating of “Reduce” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $11.01.

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

Insider Buying and Selling at Reneo Pharmaceuticals

In related news, major shareholder Braden Michael Leonard purchased 414,281 shares of Reneo Pharmaceuticals stock in a transaction on Tuesday, May 14th. The stock was bought 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 $4,115,178.76. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 17.90% of the company’s stock.

Institutional Trading of Reneo Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pale Fire Capital SE lifted its position in shares of Reneo Pharmaceuticals by 102.7% in 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. SG Americas Securities LLC acquired a new position in shares of Reneo Pharmaceuticals during the 4th quarter worth about $35,000. Jump Financial LLC acquired a new position in shares of Reneo Pharmaceuticals during the 4th quarter worth about $41,000. Marquette Asset Management LLC acquired a new position in shares of Reneo Pharmaceuticals during the 1st quarter worth about $122,000. Finally, Vestal Point Capital LP acquired a new position in shares of Reneo Pharmaceuticals during the 4th quarter worth about $640,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Reneo Pharmaceuticals Trading Down 1.4 %

Shares of RPHM stock opened at $1.44 on Friday. Reneo Pharmaceuticals has a 1-year low of $0.98 and a 1-year high of $9.21. The company has a market capitalization of $48.12 million, a price-to-earnings ratio of -0.66 and a beta of 0.19. The stock’s fifty day simple moving average is $1.57 and its 200-day simple moving average is $1.64.

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