William Blair Weighs in on Reneo Pharmaceuticals, Inc.’s FY2023 Earnings (NASDAQ:RPHM)

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) – Equities research analysts at William Blair issued their FY2023 earnings per share (EPS) estimates for shares of Reneo Pharmaceuticals in a report issued on Tuesday, November 14th. William Blair analyst M. Minter forecasts that the company will earn ($2.67) per share for the year. William Blair has a “Outperform” rating and a $35.55 price objective on the stock. The consensus estimate for Reneo Pharmaceuticals’ current full-year earnings is ($2.48) per share. William Blair also issued estimates for Reneo Pharmaceuticals’ Q4 2023 earnings at ($0.71) EPS, Q1 2024 earnings at ($0.58) EPS, Q2 2024 earnings at ($0.58) EPS, Q3 2024 earnings at ($0.60) EPS, Q4 2024 earnings at ($0.67) EPS, FY2024 earnings at ($2.43) EPS and FY2025 earnings at ($1.71) EPS.

Separately, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Reneo Pharmaceuticals in a research note on Tuesday.

Reneo Pharmaceuticals Trading Up 10.8 %

RPHM stock opened at $6.76 on Friday. The firm has a market cap of $225.18 million, a P/E ratio of -2.84 and a beta of 0.91. Reneo Pharmaceuticals has a 12-month low of $1.79 and a 12-month high of $11.30. The stock’s 50 day simple moving average is $7.49 and its 200 day simple moving average is $7.36.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Carlyle Group Inc. bought a new stake in shares of Reneo Pharmaceuticals during the first quarter valued at approximately $12,236,000. Eventide Asset Management LLC bought a new stake in shares of Reneo Pharmaceuticals during the second quarter worth $11,480,000. Great Point Partners LLC increased its holdings in Reneo Pharmaceuticals by 796.3% in the second quarter. Great Point Partners LLC now owns 1,083,317 shares of the company’s stock valued at $7,107,000 after purchasing an additional 962,453 shares during the last quarter. Franklin Resources Inc. increased its holdings in Reneo Pharmaceuticals by 230.0% in the second quarter. Franklin Resources Inc. now owns 1,345,145 shares of the company’s stock valued at $8,824,000 after purchasing an additional 937,540 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Reneo Pharmaceuticals in the third quarter worth about $3,422,000. Institutional investors and hedge funds own 85.01% of the company’s stock.

Insider Buying and Selling

In other news, insider Ashley Hall sold 15,625 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $6.28, for a total transaction of $98,125.00. Following the completion of the sale, the insider now directly owns 39,600 shares of the company’s stock, valued at approximately $248,688. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.90% of the company’s stock.

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. 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.