Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM – Get Rating) shares shot up 4.8% during mid-day trading on Monday . The stock traded as high as $2.21 and last traded at $2.19. 10 shares traded hands during trading, a decline of 100% from the average session volume of 52,943 shares. The stock had previously closed at $2.09.
Wall Street Analyst Weigh In
Separately, HC Wainwright reiterated a "buy" rating and issued a $31.00 price objective on shares of Reneo Pharmaceuticals in a research report on Monday, September 19th.
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The business's 50 day moving average price is $2.56 and its 200-day moving average price is $2.91. The company has a market cap of $53.72 million, a price-to-earnings ratio of -1.10 and a beta of 0.64.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new stake in Reneo Pharmaceuticals during the second quarter valued at approximately $457,000. Barclays PLC boosted its stake in Reneo Pharmaceuticals by 33.3% in the 3rd quarter. Barclays PLC now owns 71,930 shares of the company's stock valued at $241,000 after buying an additional 17,984 shares in the last quarter. Northern Trust Corp grew its position in Reneo Pharmaceuticals by 7.7% in the first quarter. Northern Trust Corp now owns 68,424 shares of the company's stock valued at $201,000 after acquiring an additional 4,877 shares during the period. Millennium Management LLC acquired a new position in Reneo Pharmaceuticals during the second quarter worth $158,000. Finally, UBS Group AG lifted its holdings in shares of Reneo Pharmaceuticals by 5,012.5% during the second quarter. UBS Group AG now owns 54,550 shares of the company's stock valued at $145,000 after acquiring an additional 53,483 shares during the period. Institutional investors and hedge funds own 75.61% of the company's stock.About Reneo Pharmaceuticals
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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.
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