RPHM Reneo Pharmaceuticals, Inc. Insider Trading

10% owner ACORN BIOVENTURES purchases 1,400,000 shares for $2,590,000 as stock trades 88.6% below 52-week high

ACORN BIOVENTURES, L.P., a 10% owner, executed 2 separate purchases totaling 1,400,000 shares at $1.85 per share on 2025-05-15, investing $2,590,000 total. The transaction occurred while OnKure trades at $2.20, down 88.6% from its 52-week high of $19.21 and declined 61.3% over the past 90 days. The company posted a net loss of $15,925,000 over its most recent full fiscal year, indicating ongoing unprofitability. The purchase by a significant existing shareholder at these depressed levels—only $0.37 above the 52-week low—merits investor attention given the stock's severe drawdown and the filer's substantial ownership stake, though the underlying financial distress limits confidence in the signal.

Cormorant Asset Management fully exits 1.81M shares (1,813,439) at $1.85; stock down -88.6% from 52-week high.

Cormorant Asset Management sold 1,813,439 shares (1.81M shares) at $1.85 on 2025-05-15, reducing holdings to 0 shares—a complete exit from the position. The sale occurred when the stock was already significantly depressed, trading -88.6% from its 52-week high of $19.21 and down -23.9% over the prior 30 days. OKUR is unprofitable with net income of $-15,925,000.00 ($-15.9M) over its most recent full fiscal year and a $73.5M market cap. The insider's cross-ticker track record shows strong prior execution (20 prior buys with +285.0% avg 30d return and 65% win rate), but the full liquidation at depressed levels in a loss-making company—after the stock has already fallen sharply—occurs when recovery is uncertain. The timing and size of this exit should be examined for what it signals about fundamental expectations going forward.

10% Owner Leonard Braden Michael bought 98,346 shares at $1.47 avg (2 txns, $144.7K) on 2024-09-24/25; stock -80.8% from 52-week high

Leonard Braden Michael, a 10% owner, executed 2 separate purchases totaling 98,346 shares for $144,737.75 at an average price of $1.47 on consecutive days (2024-09-24 and 2024-09-25), increasing his holdings from 3,359,049 to 3,457,395 shares. The timing occurs after the stock has declined 80.8% from its 52-week high of $84.30 to a current price of $16.20, suggesting the accumulation happened near recent lows. His cross-ticker track record shows 20 prior buys with an average 30-day return of +165.1%, though same-ticker outcomes at RPHM remain unmeasurable as all 5 prior trades at this ticker occurred within the last two weeks. The company reported negative net income of $-5,361,000 over its most recent full fiscal year, indicating ongoing losses that should be weighed against any assessment of the purchase's merit.

10% Owner Leonard Braden Michael bought 56,106 shares at $1.36 (2 purchases, $76,236.86) on 2024-09-17/18 at RPHM

Leonard Braden Michael, a 10% owner of Reneo Pharmaceuticals, executed 2 separate purchases totaling 56,106 shares for $76,236.86 at an average price of $1.36 on September 17-18, 2024. The current stock price is $15.10, reflecting -82.1% decline from the 52-week high of $84.30; this purchase occurred during a period of significant price compression. The accumulation increased his holdings by 1.7% to 3,359,049 shares (3.36M shares). Most notably, Michael's cross-ticker buy track record shows 20 prior purchases with an average 30-day return of +151.1%, and at this specific ticker (RPHM) his last two purchases on 2024-08-13 and 2024-08-14 each delivered 30-day returns exceeding +800% (specifically +912.6% and +827.0%). However, the company reported a net loss of $-5,361,000.00 ($-5.4M) in its most recent full fiscal year, reflecting ongoing unprofitability. The pattern of recent aggressive accumulation by a major shareholder during depressed valuations, combined with this insider's historical precision in capturing sharp near-term rallies in the same security, warrants close monitoring of near-term price action and any announcements that might explain the valuation reset.

10% owner Leonard Braden Michael bought 358,923 shares ($484.3K) over 3 days at $1.35–$1.40 as stock trades -83.8% from 52-week high.

Leonard Braden Michael, a 10% owner of Reneo Pharmaceuticals, executed 3 separate purchases totaling 358,923 shares for $484,344.09 between September 12–16, 2024, at prices ranging from $1.31 to $1.40 (blended average $1.35). This represents a +12.2% increase in his holdings to 3,302,943 shares. The timing is notable: the stock currently trades at $13.70, down 83.8% from its 52-week high of $84.30, and has declined 11.6% over 30 days and 13.3% over 90 days. His cross-ticker track record shows 20 prior open-market buys with an average 30-day return of +118.0%, though his 2 prior same-ticker purchases at RPHM (August 13–14) have not yet reached 90-day measurable outcomes. The company remains unprofitable with net income of $-5,361,000 for the most recent full fiscal year, establishing that this purchase occurs against a backdrop of both severe stock weakness and negative fundamentals.

10% Owner Leonard Braden Michael buys 271,826 shares at $1.40 avg; stock down 82.6% YTD; company unprofitable ($-5.4M net income).

Leonard Braden Michael, a 10% owner, executed two separate purchases totaling 271,826 shares for $380,597.79 at a blended average price of $1.40, increasing his holdings from 2,672,194 to 2,944,020 shares (+10.2%). The stock is currently trading at $14.70, down 82.6% from its 52-week high of $84.30, and the company reported a full-year net loss of $-5,361,000.00. Historically, Michael's cross-ticker track record shows 20 prior buys with an average 30-day return of +17.3%, though this measure reflects his overall market timing across multiple securities, not necessarily predictive of RPHM's near-term direction. The timing of this accumulation during a sharp equity decline in an unprofitable biotech warrants tracking of whether the loss trajectory stabilizes or whether the stock continues to reflect deteriorating fundamentals.