Renovaro Inc. (NASDAQ:RENB) Short Interest Update

Renovaro Inc. (NASDAQ:RENB) was the recipient of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 1,460,000 shares, a drop of 24.4% from the May 15th total of 1,930,000 shares. Based on an average trading volume of 599,600 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.4% of the shares of the company are short sold.

Hedge Funds Weigh In On Renovaro

Several large investors have recently modified their holdings of RENB. SG Americas Securities LLC bought a new position in shares of Renovaro in the first quarter valued at about $46,000. Vanguard Group Inc. increased its position in Renovaro by 904.0% during the first quarter. Vanguard Group Inc. now owns 3,916,672 shares of the company’s stock worth $10,379,000 after acquiring an additional 3,526,565 shares during the period. Finally, Tidal Investments LLC bought a new position in Renovaro during the first quarter worth about $98,000. 71.41% of the stock is owned by institutional investors.

Renovaro Price Performance

RENB stock traded up $0.19 during trading hours on Friday, reaching $1.64. The stock had a trading volume of 735,800 shares, compared to its average volume of 1,173,534. The stock has a market capitalization of $241.92 million, a PE ratio of -2.10 and a beta of 0.44. The stock has a 50-day simple moving average of $1.61 and a 200 day simple moving average of $2.73. Renovaro has a fifty-two week low of $0.39 and a fifty-two week high of $5.25.

Renovaro (NASDAQ:RENB) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.08) earnings per share for the quarter.

Renovaro Company Profile

Renovaro Inc, a pre-clinical stage biotechnology company, engages in the research and development of pharmaceutical and biological products for the human treatment of human immunodeficiency virus (HIV), hepatitis B virus (HBV), and cancer in the United States. The company's product pipeline includes RENB-HV-01 for autologous HIV curative treatment; RENB-HV-12, a therapeutic HIV vaccine; and RENB-HB-01, a gene therapy curative treatment for HBV.