Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) Major Shareholder Purchases $41,736.00 in Stock

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) major shareholder Braden Michael Leonard acquired 29,600 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average price of $1.41 per share, for a total transaction of $41,736.00. Following the completion of the transaction, the insider now directly owns 3,388,649 shares in the company, valued at $4,777,995.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, September 17th, Braden Michael Leonard purchased 55,300 shares of Reneo Pharmaceuticals stock. The stock was acquired at an average price of $1.36 per share, with a total value of $75,208.00.
• On Tuesday, August 13th, Braden Michael Leonard bought 171,339 shares of Reneo Pharmaceuticals stock. The shares were acquired at an average price of $1.39 per share, with a total value of $238,161.21.

Reneo Pharmaceuticals Stock Up 5.6 %

RPHM stock traded up $0.09 during midday trading on Thursday, hitting $1.62. The company’s stock had a trading volume of 255,656 shares, compared to its average volume of 247,894. Reneo Pharmaceuticals, Inc. has a 12 month low of $0.98 and a 12 month high of $9.21. The company has a 50 day moving average of $1.46 and a two-hundred day moving average of $1.59. The firm has a market capitalization of $53.97 million, a price-to-earnings ratio of -0.79 and a beta of 0.19.

Reneo Pharmaceuticals (NASDAQ:RPHM) last posted its earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. On average, analysts anticipate that Reneo Pharmaceuticals, Inc. will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reneo Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPHM. Pale Fire Capital SE raised its holdings in shares of Reneo Pharmaceuticals by 102.7% during 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. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Reneo Pharmaceuticals during the 2nd quarter valued at approximately $27,000. Jump Financial LLC purchased a new stake in Reneo Pharmaceuticals during the 4th quarter valued at $41,000. Marquette Asset Management LLC bought a new stake in Reneo Pharmaceuticals in the first quarter worth $122,000. Finally, Highbridge Capital Management LLC boosted its stake in Reneo Pharmaceuticals by 6.5% during 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 during the period. 90.98% of the stock is owned by institutional investors.

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.