Lundbeckfond Invest A/S recently announced the acquisition of new stake in Reneo Pharmaceuticals Inc. (NASDAQ:RPHM). The institutional investor has increased its shareholding in the Healthcare company by 19.63% to 2.03 million shares with purchase of 0.33 million shares. This fresh investment now brings its stake to 8.28% valued currently at $4.73 million. In addition, Geode Capital Management LLC raised its holdings by 35145.0 to 88503.0 shares. And Barclays Bank Plc has lifted its position by 33.34% or 17984.0 shares – to 71930.0 shares.
With over 0.11 million Reneo Pharmaceuticals Inc. (RPHM) shares trading Monday and a closing price of $2.50 on the day, the dollar volume was approximately $0.28 million. The shares have shown a negative half year performance of -23.31% and its price on 01/23/23 gained nearly 2.46%. Currently, there are 24.50M common shares owned by the public and among those 23.73M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for RPHM have a consensus price objective of $29.00. The analysts have set the share’s price value over the next 12 months at a high of $42.00 and a low of $17.00. The average price target is 90.51% above its recent price level and an upside to the estimated low will see the stock gain 85.29% over that period. But an upside of 94.05% will see the stock hit the forecast high price target while median target price for the stock is $28.00.
Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 64,755 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 22,348 shares.
The top 3 mutual fund holders in Reneo Pharmaceuticals Inc. are FTIF SICAV – Biotechnology Discov, Vanguard Total Stock Market Index, and Franklin Biotechnology Discovery. FTIF SICAV – Biotechnology Discov owns 0.25 million shares of the company’s stock, all valued at over $0.58 million. Franklin Biotechnology Discovery now owns shares totaling to 0.65% of the shares outstanding.
Shares of Reneo Pharmaceuticals Inc. (NASDAQ: RPHM) opened at $2.489, up $0.05 from a prior closing price of $2.44. However, the script later moved the day high at 2.5790, up 2.46%. The company’s stock has a 5-day price change of -3.85% and -23.08% over the past three months. RPHM shares are trading 7.30% year to date (YTD), with the 12-month market performance down to -68.79% lower. It has a 12-month low price of $1.79 and touched a high of $8.14 over the same period. RPHM has an average intraday trading volume of 22.68K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.36%, 6.31%, and -8.88% respectively.
Institutional ownership of Reneo Pharmaceuticals Inc. (NASDAQ: RPHM) shares accounts for 75.40% of the company’s 24.50M shares outstanding. Mutual fund holders own 22.80%, while other institutional holders and individual stakeholders account for 3.80% and 19.81% respectively.
It has a market capitalization of $62.80M. The earnings-per-share (ttm) stands at -$2.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.84% over the week and 7.19% over the month.
Analysts forecast that Reneo Pharmaceuticals Inc. (RPHM) will achieve an EPS of -$0.57 for the current quarter, -$0.64 for the next quarter and -$2.26 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.6 while analysts give the company a high EPS estimate of -$0.54. Comparatively, EPS for the current quarter was -$0.52 a year ago. Earnings per share for the fiscal year are expected to decrease by -102.30%, and -3.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Reneo Pharmaceuticals Inc. (RPHM) as a “Strong Buy” at a consensus score of 1.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RPHM, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on September 19, 2022, with the firm’s price target at $31. Robert W. Baird coverage for the Reneo Pharmaceuticals Inc. (RPHM) stock in a research note released on January 27, 2022 offered a Outperform rating with a price target of $28. H.C. Wainwright was of a view on December 21, 2021 that the stock is Buy, while Ladenburg Thalmann gave the stock Buy rating on November 22, 2021, issuing a price target of $45. SVB Leerink on their part issued Outperform rating on May 04, 2021.
