Rein Therapeutics (NASDAQ:RNTX) Shares Down 9.2% – What’s Next?

Shares of Rein Therapeutics Inc. (NASDAQ:RNTX) fell 9.2% on Thursday . The stock traded as low as $1.07 and last traded at $1.08. 270,369 shares changed hands during mid-day trading, an increase of 139% from the average session volume of 113,343 shares. The stock had previously closed at $1.19.

Wall Street Analyst Weigh In

Separately, Brookline Capital Management cut Rein Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, August 19th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Rein Therapeutics has a consensus rating of “Hold”.

Rein Therapeutics Trading Down 9.2%

The stock has a market capitalization of $25.17 million, a P/E ratio of -0.40 and a beta of 1.13. The company has a 50-day moving average price of $1.29 and a 200 day moving average price of $1.64.

Rein Therapeutics (NASDAQ:RNTX) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). As a group, research analysts expect that Rein Therapeutics Inc. will post -1.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RNTX. Blair William & Co. IL bought a new position in shares of Rein Therapeutics in the 2nd quarter worth $33,000. Meridian Wealth Advisors LLC bought a new position in shares of Rein Therapeutics in the 2nd quarter worth $40,000. Exencial Wealth Advisors LLC bought a new position in shares of Rein Therapeutics in the 2nd quarter worth $43,000. Chicago Partners Investment Group LLC bought a new position in shares of Rein Therapeutics in the 2nd quarter worth $64,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Rein Therapeutics in the 2nd quarter worth $68,000. 90.89% of the stock is owned by institutional investors.

About Rein Therapeutics

Rein Therapeutics, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of a novel class of therapeutics for the treatment of cancer and other diseases. It focuses on its lead product candidate, ALRN-6924, which is a cell-permeating peptide that disrupts the interaction of p53 suppressors MDM2 and MDMX with tumor suppressor p53 to reactivate tumor suppression in non-mutant, or wild-type, p53 cancers.