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

Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM) major shareholder Braden Michael Leonard purchased 29,600 shares of the company’s stock in a transaction that occurred on 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 purchase, the insider now directly owns 3,388,649 shares in the company, valued at $4,777,995.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

Reneo Pharmaceuticals Price Performance

Shares of NASDAQ:RPHM opened at $1.66 on Friday. Reneo Pharmaceuticals, Inc. has a 1-year low of $0.98 and a 1-year high of $9.21. The stock has a market cap of $55.49 million, a P/E ratio of -0.76 and a beta of 0.19. The firm has a fifty day moving average price of $1.47 and a 200 day moving average price of $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 the consensus estimate of ($0.17) by $0.01. Sell-side analysts expect that Reneo Pharmaceuticals, Inc. will post -0.65 EPS for the current fiscal year.

Institutional Trading of Reneo Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Pale Fire Capital SE lifted its holdings in shares of Reneo Pharmaceuticals by 102.7% during the fourth 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Reneo Pharmaceuticals during the 2nd quarter worth $27,000. Jump Financial LLC purchased a new position in Reneo Pharmaceuticals during the 4th quarter worth $41,000. Marquette Asset Management LLC acquired a new stake in shares of Reneo Pharmaceuticals in the 1st quarter worth $122,000. Finally, Highbridge Capital Management LLC boosted its holdings in shares of Reneo Pharmaceuticals by 6.5% in the second 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. 90.98% of the stock is owned by institutional investors and hedge funds.

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.