RenovoRx (NASDAQ:RNXT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RenovoRx (NASDAQ:RNXT) from a strong sell rating to a sell rating in a research note published on Saturday morning.

RNXT has been the subject of a number of other research reports. Ascendiant Capital Markets upped their price objective on shares of RenovoRx from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Weiss Ratings cut shares of RenovoRx from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Finally, HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of RenovoRx in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, RenovoRx presently has an average rating of “Moderate Buy” and an average price target of $8.50.

RenovoRx Stock Performance

Shares of NASDAQ RNXT opened at $0.86 on Friday. RenovoRx has a 1 year low of $0.70 and a 1 year high of $1.45. The firm’s 50 day moving average price is $0.90 and its 200 day moving average price is $0.93. The firm has a market cap of $38.91 million, a P/E ratio of -2.62 and a beta of 0.99.

RenovoRx (NASDAQ:RNXT) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.47 million. RenovoRx had a negative return on equity of 135.03% and a negative net margin of 823.98%. As a group, equities analysts predict that RenovoRx will post -0.31 EPS for the current year.

Institutional Investors Weigh In On RenovoRx

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNXT. XTX Topco Ltd grew its holdings in shares of RenovoRx by 58.6% during the 4th quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock worth $42,000 after purchasing an additional 18,525 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in RenovoRx in the second quarter valued at approximately $98,000. Citadel Advisors LLC purchased a new position in RenovoRx in the third quarter valued at approximately $154,000. Wealthspire Advisors LLC acquired a new position in RenovoRx during the fourth quarter valued at approximately $212,000. Finally, Geode Capital Management LLC lifted its position in RenovoRx by 9.9% during the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after buying an additional 31,730 shares in the last quarter. 3.10% of the stock is currently owned by institutional investors and hedge funds.

RenovoRx Company Profile

RenovoRx, Inc is a clinical-stage medical technology company focused on the development of proprietary drug-device combination therapies for the treatment of solid tumor malignancies. The company’s lead product candidate, RenovoCath™, is an intra-arterial catheter system designed to deliver high concentrations of chemotherapeutic agents directly to tumor sites while minimizing systemic exposure. RenovoRx seeks to improve clinical outcomes and reduce adverse effects by enhancing drug delivery precision in hard-to-treat cancers.

RenovoCath™ is being evaluated in multiple clinical trials targeting advanced pancreatic cancer and metastatic colorectal cancer, among other solid tumors.