RenovoRx, Inc. (NASDAQ:RNXT – Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 54,900 shares, a growth of 24.8% from the June 30th total of 44,000 shares. Based on an average trading volume of 39,900 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.2% of the shares of the stock are sold short.
Hedge Funds Weigh In On RenovoRx
A hedge fund recently bought a new stake in RenovoRx stock. Nixon Peabody Trust Co. purchased a new stake in RenovoRx, Inc. (NASDAQ:RNXT – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned 0.91% of RenovoRx as of its most recent filing with the SEC. 3.10% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Ascendiant Capital Markets began coverage on shares of RenovoRx in a research report on Monday, June 17th. They set a “buy” rating and a $8.00 price target on the stock.
RenovoRx Price Performance
RNXT stock traded down $0.01 during trading on Tuesday, reaching $1.27. 278 shares of the stock were exchanged, compared to its average volume of 50,083. The business has a 50 day moving average price of $1.19 and a 200-day moving average price of $1.30. RenovoRx has a 1 year low of $0.53 and a 1 year high of $2.35.
RenovoRx (NASDAQ:RNXT – Get Free Report) last issued its earnings results on Friday, May 10th. The company reported ($0.07) EPS for the quarter.
About RenovoRx
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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