Short Interest in Renovaro Inc. (NASDAQ:RENB) Grows By 27.7%

Renovaro Inc. (NASDAQ:RENB) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 3,870,000 shares, an increase of 27.7% from the November 30th total of 3,030,000 shares. Based on an average daily volume of 869,400 shares, the days-to-cover ratio is currently 4.5 days. Currently, 5.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Renovaro

Several institutional investors have recently made changes to their positions in RENB. Bank of New York Mellon Corp purchased a new stake in Renovaro during the second quarter worth $220,000. Rhumbline Advisers acquired a new stake in Renovaro in the 2nd quarter valued at about $79,000. State Street Corp raised its position in Renovaro by 3.8% during the third quarter. State Street Corp now owns 1,323,832 shares of the company’s stock worth $640,000 after acquiring an additional 48,114 shares during the last quarter. Barclays PLC lifted its stake in Renovaro by 315.7% in the 3rd quarter. Barclays PLC now owns 69,531 shares of the company’s stock valued at $34,000 after buying an additional 52,804 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Renovaro by 347.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,010 shares of the company’s stock valued at $45,000 after purchasing an additional 72,230 shares during the last quarter. 71.41% of the stock is currently owned by hedge funds and other institutional investors.

Renovaro Stock Performance

NASDAQ RENB traded down $0.04 during trading on Tuesday, reaching $0.84. The company’s stock had a trading volume of 366,774 shares, compared to its average volume of 628,313. The business’s fifty day moving average price is $0.91 and its 200-day moving average price is $0.90. Renovaro has a twelve month low of $0.40 and a twelve month high of $5.25. The firm has a market cap of $132.61 million, a price-to-earnings ratio of -0.87 and a beta of 0.65.

Renovaro (NASDAQ:RENB) last released its quarterly earnings results on Thursday, October 10th. The company reported ($0.45) EPS for the quarter.

About Renovaro

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.