Insider Buying: RenovoRx, Inc. (NASDAQ:RNXT) Insider Purchases 20,000 Shares of Stock

RenovoRx, Inc. (NASDAQ:RNXT) insider Ramtin Agah bought 20,000 shares of RenovoRx stock in a transaction dated Friday, April 11th. The shares were bought at an average cost of $0.80 per share, with a total value of $16,000.00. Following the completion of the acquisition, the insider now owns 1,098,460 shares of the company’s stock, valued at $878,768. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ramtin Agah also recently made the following trade(s):

• On Tuesday, April 8th, Ramtin Agah purchased 26,000 shares of RenovoRx stock. The stock was bought at an average cost of $0.84 per share, for a total transaction of $21,840.00.

RenovoRx Stock Performance

NASDAQ RNXT opened at $0.77 on Monday. The firm’s 50 day moving average price is $1.00 and its two-hundred day moving average price is $1.13. RenovoRx, Inc. has a twelve month low of $0.75 and a twelve month high of $1.69. The stock has a market cap of $18.53 million, a price-to-earnings ratio of -1.35 and a beta of 1.12.

RenovoRx (NASDAQ:RNXT) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.17 million. On average, research analysts forecast that RenovoRx, Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On RenovoRx

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of RenovoRx by 61.9% in the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after purchasing an additional 89,018 shares in the last quarter. Renaissance Technologies LLC acquired a new position in RenovoRx in the 4th quarter valued at approximately $84,000. Finally, Citadel Advisors LLC purchased a new stake in RenovoRx in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of RenovoRx in a research note on Friday, April 4th.

RenovoRx Company Profile

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.