Nantahala Capital Management LLC Invests $846,000 in Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM)

Nantahala Capital Management LLC purchased a new stake in Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 547,804 shares of the company’s stock, valued at approximately $846,000. Nantahala Capital Management LLC owned approximately 1.64% of Reneo Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vestal Point Capital LP bought a new position in shares of Reneo Pharmaceuticals in the fourth quarter valued at approximately $640,000. Highbridge Capital Management LLC lifted its stake in Reneo Pharmaceuticals by 6.5% during the 2nd quarter. Highbridge Capital Management LLC now owns 2,915,376 shares of the company’s stock valued at $4,402,000 after acquiring an additional 178,806 shares in the last quarter. Marquette Asset Management LLC purchased a new position in Reneo Pharmaceuticals during the 1st quarter worth $122,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Reneo Pharmaceuticals in the 2nd quarter worth $27,000. Finally, Pale Fire Capital SE grew its stake in shares of Reneo Pharmaceuticals by 102.7% in the 4th quarter. Pale Fire Capital SE now owns 30,100 shares of the company’s stock worth $48,000 after acquiring an additional 15,249 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Reneo Pharmaceuticals Price Performance

RPHM opened at $1.70 on Tuesday. Reneo Pharmaceuticals, Inc. has a fifty-two week low of $0.98 and a fifty-two week high of $9.21. The firm has a market capitalization of $56.82 million, a P/E ratio of -0.78 and a beta of 0.19. The company’s 50-day moving average is $1.47 and its 200 day moving average is $1.59.

Reneo Pharmaceuticals (NASDAQ:RPHM) last announced its earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. On average, equities research analysts expect that Reneo Pharmaceuticals, Inc. will post -0.65 earnings per share for the current year.

Insiders Place Their Bets

In other Reneo Pharmaceuticals news, major shareholder Braden Michael Leonard bought 55,300 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was purchased at an average cost of $1.36 per share, with a total value of $75,208.00. Following the transaction, the insider now directly owns 3,358,243 shares in the company, valued at approximately $4,567,210.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 256,239 shares of company stock valued at $355,105. 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. The company's 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.