Analysts Issue Forecasts for Reneo Pharmaceuticals, Inc.’s Q3 2023 Earnings (NASDAQ:RPHM)

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) – HC Wainwright issued their Q3 2023 EPS estimates for Reneo Pharmaceuticals in a report released on Monday, August 28th. HC Wainwright analyst M. Kapoor forecasts that the company will post earnings of ($0.60) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Reneo Pharmaceuticals’ current full-year earnings is ($2.45) per share. HC Wainwright also issued estimates for Reneo Pharmaceuticals’ Q4 2023 earnings at ($0.57) EPS, Q1 2024 earnings at ($0.56) EPS and Q2 2024 earnings at ($0.63) EPS.

Separately, Bank of America assumed coverage on Reneo Pharmaceuticals in a research report on Monday, July 3rd. They set a “buy” rating for the company.

Reneo Pharmaceuticals Stock Up 5.3 %

Reneo Pharmaceuticals stock opened at $6.36 on Tuesday. The company has a market capitalization of $214.97 million, a P/E ratio of -2.72 and a beta of 1.07. The firm has a 50 day moving average price of $6.67 and a 200-day moving average price of $6.70. Reneo Pharmaceuticals has a twelve month low of $1.79 and a twelve month high of $11.30.

Insider Transactions at Reneo Pharmaceuticals

In other Reneo Pharmaceuticals news, insider Ashley Hall sold 15,625 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $6.28, for a total transaction of $98,125.00. Following the sale, the insider now directly owns 39,600 shares in the company, valued at approximately $248,688. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Holdings A/S Novo sold 100,000 shares of Reneo Pharmaceuticals stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $7.10, for a total value of $710,000.00. Following the completion of the transaction, the insider now owns 3,330,337 shares in the company, valued at $23,645,392.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ashley Hall sold 15,625 shares of Reneo Pharmaceuticals stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $6.28, for a total value of $98,125.00. Following the completion of the transaction, the insider now owns 39,600 shares of the company’s stock, valued at approximately $248,688. The disclosure for this sale can be found here. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. American International Group Inc. bought a new position in Reneo Pharmaceuticals in the second quarter worth approximately $31,000. Wells Fargo & Company MN boosted its holdings in Reneo Pharmaceuticals by 352.1% in the second quarter. Wells Fargo & Company MN now owns 5,715 shares of the company’s stock valued at $37,000 after purchasing an additional 4,451 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Reneo Pharmaceuticals in the second quarter valued at $61,000. Dimensional Fund Advisors LP purchased a new stake in Reneo Pharmaceuticals in the third quarter valued at $62,000. Finally, Tang Capital Management LLC acquired a new position in shares of Reneo Pharmaceuticals in the fourth quarter worth about $71,000. Hedge funds and other institutional investors own 85.01% of the company’s stock.

Reneo Pharmaceuticals Company Profile

Reneo Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases. Its 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.