Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Major Shareholder Braden Michael Leonard Purchases 55,300 Shares of Stock

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) major shareholder Braden Michael Leonard purchased 55,300 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $75,208.00. Following the completion of the purchase, the insider now owns 3,358,243 shares in the company, valued at $4,567,210.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Braden Michael Leonard also recently made the following trade(s):

• On Tuesday, August 13th, Braden Michael Leonard acquired 171,339 shares of Reneo Pharmaceuticals stock. The shares were purchased at an average price of $1.39 per share, with a total value of $238,161.21.

Reneo Pharmaceuticals Stock Performance

Shares of NASDAQ:RPHM opened at $1.51 on Friday. The stock’s 50-day simple moving average is $1.47 and its two-hundred day simple moving average is $1.60. The stock has a market capitalization of $50.48 million, a price-to-earnings ratio of -0.70 and a beta of 0.19. Reneo Pharmaceuticals, Inc. has a 52-week low of $0.98 and a 52-week high of $9.21.

Reneo Pharmaceuticals (NASDAQ:RPHM) last posted its quarterly earnings data 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. As a group, equities analysts forecast that Reneo Pharmaceuticals, Inc. will post -0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Reneo Pharmaceuticals in the 2nd quarter worth $27,000. Nantahala Capital Management LLC bought a new stake in Reneo Pharmaceuticals during the second quarter valued at about $846,000. Highbridge Capital Management LLC increased its position in Reneo Pharmaceuticals by 6.5% in the second quarter. Highbridge Capital Management LLC now owns 2,915,376 shares of the company’s stock worth $4,402,000 after buying an additional 178,806 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Reneo Pharmaceuticals in the first quarter worth about $122,000. Finally, Pale Fire Capital SE raised its stake in shares of Reneo Pharmaceuticals by 102.7% in the fourth quarter. Pale Fire Capital SE now owns 30,100 shares of the company’s stock worth $48,000 after buying an additional 15,249 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

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.