Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Major Shareholder Buys $75,208.00 in Stock

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) major shareholder Braden Michael Leonard bought 55,300 shares of the stock in a transaction dated Tuesday, September 17th. The stock was bought at an average price of $1.36 per share, for a total transaction of $75,208.00. Following the purchase, the insider now directly owns 3,358,243 shares of the company’s stock, valued at $4,567,210.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

• On Tuesday, August 13th, Braden Michael Leonard purchased 171,339 shares of Reneo Pharmaceuticals stock. The shares were bought at an average price of $1.39 per share, with a total value of $238,161.21.

Reneo Pharmaceuticals Trading Down 0.7 %

Reneo Pharmaceuticals stock opened at $1.50 on Friday. The firm has a market cap of $50.13 million, a PE ratio of -0.69 and a beta of 0.19. Reneo Pharmaceuticals, Inc. has a 12 month low of $0.98 and a 12 month high of $9.21. The stock’s 50 day simple moving average is $1.47 and its two-hundred day simple moving average is $1.59.

Reneo Pharmaceuticals (NASDAQ:RPHM) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. On average, equities research analysts forecast that Reneo Pharmaceuticals, Inc. will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Reneo Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Highbridge Capital Management LLC purchased a new position in shares of Reneo Pharmaceuticals in the 4th quarter valued at about $1,795,000. Nantahala Capital Management LLC acquired a new stake in Reneo Pharmaceuticals in the second quarter valued at approximately $846,000. Vestal Point Capital LP acquired a new stake in Reneo Pharmaceuticals in the fourth quarter valued at approximately $640,000. Marquette Asset Management LLC purchased a new stake in shares of Reneo Pharmaceuticals in the first quarter valued at approximately $122,000. Finally, Jump Financial LLC acquired a new position in shares of Reneo Pharmaceuticals during the 4th quarter worth approximately $41,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

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.