Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) COO Acquires $10,310.52 in Stock

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHMGet Rating) COO Michael Cruse bought 3,212 shares of the stock in a transaction on Wednesday, August 31st. The shares were acquired at an average cost of $3.21 per share, with a total value of $10,310.52. Following the purchase, the chief operating officer now owns 6,197 shares of the company’s stock, valued at approximately $19,892.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Cruse also recently made the following trade(s):

  • On Monday, August 29th, Michael Cruse bought 83 shares of Reneo Pharmaceuticals stock. The shares were acquired at an average cost of $3.24 per share, with a total value of $268.92.

Reneo Pharmaceuticals Price Performance

Reneo Pharmaceuticals stock opened at $3.29 on Friday. The company has a market capitalization of $80.54 million, a P/E ratio of -1.62 and a beta of 1.41. The business has a 50 day moving average of $2.97 and a 200-day moving average of $2.99. Reneo Pharmaceuticals, Inc. has a 1 year low of $1.92 and a 1 year high of $10.72.

Reneo Pharmaceuticals (NASDAQ:RPHMGet Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.10. Equities analysts anticipate that Reneo Pharmaceuticals, Inc. will post -2.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RPHM shares. SVB Leerink reaffirmed an “outperform” rating on shares of Reneo Pharmaceuticals in a research note on Tuesday, May 10th. Piper Sandler upped their price objective on Reneo Pharmaceuticals from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, July 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $28.20.

Institutional Trading of Reneo Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new stake in Reneo Pharmaceuticals during the 4th quarter valued at approximately $115,000. Commonwealth Equity Services LLC acquired a new stake in Reneo Pharmaceuticals during the 1st quarter valued at approximately $65,000. Renaissance Technologies LLC acquired a new stake in Reneo Pharmaceuticals during the 2nd quarter valued at approximately $61,000. Bank of America Corp DE boosted its holdings in shares of Reneo Pharmaceuticals by 24.0% during the 1st quarter. Bank of America Corp DE now owns 40,878 shares of the company’s stock worth $121,000 after buying an additional 7,914 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Reneo Pharmaceuticals by 5,012.5% during the 2nd quarter. UBS Group AG now owns 54,550 shares of the company’s stock worth $145,000 after buying an additional 53,483 shares in the last quarter. Institutional investors and hedge funds own 75.45% of the company’s stock.

About Reneo Pharmaceuticals

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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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