Ascendiant Capital Markets Raises RenovoRx (NASDAQ:RNXT) Price Target to $11.00

RenovoRx (NASDAQ:RNXT) had its price target lifted by stock analysts at Ascendiant Capital Markets from $9.00 to $11.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock.

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

RenovoRx Price Performance

Shares of RNXT opened at $0.99 on Monday. RenovoRx has a fifty-two week low of $0.75 and a fifty-two week high of $1.69. The firm has a market capitalization of $36.18 million, a PE ratio of -1.74 and a beta of 1.12. The company’s 50-day moving average is $0.96 and its 200-day moving average is $1.13.

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

Hedge Funds Weigh In On RenovoRx

Large investors have recently made changes to their positions in the business. Citadel Advisors LLC acquired a new position in shares of RenovoRx in the 4th quarter worth approximately $49,000. Renaissance Technologies LLC acquired a new stake in shares of RenovoRx in the 4th quarter valued at approximately $84,000. Finally, Geode Capital Management LLC boosted its position in shares of RenovoRx by 61.9% during 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. Institutional investors and hedge funds own 3.10% of the company’s stock.

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.