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Buying Buzz: Reneo Pharmaceuticals Inc [RPHM] 10% Owner Leonard Braden Michael purchases 414,281 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Reneo Pharmaceuticals Inc shares valued at $639,578 were purchased by Leonard Braden Michael on May 14 ’24. At $1.54 per share, Leonard Braden Michael acquired 414,281 shares. The insider’s holdings grew to 2,672,194 shares worth approximately $3.85 million following the completion of this transaction.

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Also, Hall Ashley sold 15,625 shares, netting a total of over 98,058 in proceeds. Following the sale of shares at $6.28 each, the insider now holds 39,600 shares.

As published in a research note from Leerink Partners on December 15, 2023, Reneo Pharmaceuticals Inc [RPHM] has been rated down from an Outperform to a Market perform. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid December. As of December 15, 2023, H.C. Wainwright has decreased its “Buy” rating to a “Neutral” for RPHM. Earlier on December 14, 2023, William Blair downgraded its rating. Their new recommendation was “a Mkt perform” for RPHM stock which previously was a “an Outperform”.

Analyzing RPHM Stock Performance

During the last five days, there has been a drop of approximately -8.28%. Over the course of the year, Reneo Pharmaceuticals Inc shares have dropped approximately -10.00%. Shares of the company reached a 52-week high of $1.9300 on 06/12/24 and a 52-week low of $1.3200 on 01/19/24. A 50-day SMA is recorded $1.6803, while a 200-day SMA reached $3.3971. Nevertheless, trading volume fell to 72409.0 shares from 0.13 million shares the previous day.

Support And Resistance Levels for Reneo Pharmaceuticals Inc (RPHM)

According to the 24-hour chart, there is a support level at 1.4800, which, if violated, would cause prices to drop to 1.4500. In the upper region, resistance lies at 1.5400. The next price resistance is at 1.5700. RSI (Relative Strength Index) is 33.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0681, which suggests the price will decrease in the coming days. Percent R is at 88.00%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.

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