RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Down 21.8% in October

RenovoRx, Inc. (NASDAQ:RNXT) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 71,900 shares, a decline of 21.8% from the October 15th total of 91,900 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 33,000 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets boosted their price objective on RenovoRx from $8.00 to $8.25 and gave the stock a “buy” rating in a report on Thursday, September 12th.

RenovoRx Price Performance

NASDAQ RNXT remained flat at $1.09 during trading hours on Friday. The company had a trading volume of 12,838 shares, compared to its average volume of 43,926. RenovoRx has a twelve month low of $0.53 and a twelve month high of $2.35. The business’s 50 day moving average price is $1.03 and its 200-day moving average price is $1.13. The firm has a market capitalization of $26.15 million, a P/E ratio of -1.91 and a beta of 0.99.

RenovoRx (NASDAQ:RNXT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.10) earnings per share for the quarter. Analysts predict that RenovoRx will post -0.41 EPS for the current year.

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.