RenovoRx (NASDAQ:RNXT) Issues Quarterly Earnings Results

RenovoRx (NASDAQ:RNXT) issued its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08), FiscalAI reports. The business had revenue of $0.27 million for the quarter, compared to analysts’ expectations of $0.41 million.

RenovoRx Price Performance

Shares of NASDAQ:RNXT traded down $0.16 during trading on Friday, hitting $0.82. The company had a trading volume of 1,013,123 shares, compared to its average volume of 274,922. The stock has a market cap of $29.98 million, a price-to-earnings ratio of -2.09 and a beta of 1.29. The company has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.19. RenovoRx has a one year low of $0.70 and a one year high of $1.69.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Ascendiant Capital Markets upped their target price on shares of RenovoRx from $11.50 to $12.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Weiss Ratings restated a “sell (e+)” rating on shares of RenovoRx in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of RenovoRx from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, RenovoRx has a consensus rating of “Hold” and an average target price of $7.50.

Hedge Funds Weigh In On RenovoRx

An institutional investor recently bought a new position in RenovoRx stock. Northwestern Mutual Wealth Management Co. purchased a new position in RenovoRx, Inc. (NASDAQ:RNXT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,596 shares of the company’s stock, valued at approximately $98,000. Northwestern Mutual Wealth Management Co. owned about 0.20% of RenovoRx at the end of the most recent quarter. 3.10% of the stock is owned by institutional investors and hedge funds.

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.