RenovoRx (NASDAQ:RNXT) Coverage Initiated by Analysts at Ascendiant Capital Markets

Ascendiant Capital Markets initiated coverage on shares of RenovoRx (NASDAQ:RNXTFree Report) in a research report released on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $8.00 target price on the stock.

RenovoRx Trading Up 1.5 %

RenovoRx stock opened at $1.37 on Monday. RenovoRx has a 1-year low of $0.53 and a 1-year high of $3.29. The firm has a market capitalization of $32.81 million, a price-to-earnings ratio of -1.90 and a beta of 1.03. The firm’s fifty day moving average price is $1.24 and its two-hundred day moving average price is $1.29.

RenovoRx (NASDAQ:RNXTGet Free Report) last released its quarterly earnings data on Friday, May 10th. The company reported ($0.07) earnings per share for the quarter.

Institutional Trading of RenovoRx

An institutional investor recently bought a new position in RenovoRx stock. Nixon Peabody Trust Co. bought a new stake in RenovoRx, Inc. (NASDAQ:RNXTFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned about 0.91% of RenovoRx at the end of the most recent reporting period. Institutional investors and hedge funds own 3.10% of the company’s stock.

RenovoRx Company Profile

(Get Free Report)

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary targeted combination therapies to improve therapeutic outcomes for cancer patients undergoing treatment. Its lead product candidate is RenovoGem, an oncology drug-device combination product, consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.

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