Highbridge Capital Management LLC increased its stake in Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM – Free Report) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,915,376 shares of the company’s stock after acquiring an additional 178,806 shares during the period. Highbridge Capital Management LLC owned approximately 8.72% of Reneo Pharmaceuticals worth $4,402,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in RPHM. Jump Financial LLC acquired a new position in Reneo Pharmaceuticals during the fourth quarter worth about $41,000. Pale Fire Capital SE raised its holdings 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 purchasing an additional 15,249 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in Reneo Pharmaceuticals during the first quarter valued at approximately $122,000. Finally, Vestal Point Capital LP acquired a new stake in Reneo Pharmaceuticals during the fourth quarter valued at approximately $640,000. Institutional investors and hedge funds own 90.98% of the company’s stock.
Insider Activity at Reneo Pharmaceuticals
In other news, major shareholder Braden Michael Leonard acquired 171,339 shares of Reneo Pharmaceuticals stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $1.39 per share, with a total value of $238,161.21. Following the completion of the purchase, the insider now owns 2,843,533 shares of the company’s stock, valued at $3,952,510.87. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.90% of the stock is currently owned by corporate insiders.
Reneo Pharmaceuticals Stock Performance
Reneo Pharmaceuticals (NASDAQ:RPHM – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. On average, sell-side analysts expect that Reneo Pharmaceuticals, Inc. will post -0.65 EPS for the current fiscal year.
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. 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.
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