RenovoRx (NASDAQ:RNXT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RenovoRx (NASDAQ:RNXT) from a sell rating to a hold rating in a report issued on Saturday.

Several other research firms have also recently weighed in on RNXT. Weiss Ratings upgraded RenovoRx from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 17th. Ascendiant Capital Markets raised their target price on shares of RenovoRx from $13.50 to $14.00 and gave the stock a “buy” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

RenovoRx Trading Down 14.3%

Shares of RenovoRx stock opened at $1.20 on Friday. The company has a market capitalization of $54.06 million, a PE ratio of -3.87 and a beta of 0.99. RenovoRx has a 12 month low of $0.70 and a 12 month high of $1.50. The stock’s fifty day simple moving average is $0.96 and its 200 day simple moving average is $0.94.

RenovoRx (NASDAQ:RNXT) last posted its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. RenovoRx had a negative return on equity of 138.07% and a negative net margin of 621.71%.The firm had revenue of $0.91 million for the quarter, compared to analyst estimates of $0.70 million. Analysts predict that RenovoRx will post -0.31 EPS for the current fiscal year.

Institutional Trading of RenovoRx

A number of institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC boosted its position in shares of RenovoRx by 30.8% during the first quarter. AIGH Capital Management LLC now owns 3,706,197 shares of the company’s stock worth $3,682,000 after buying an additional 872,303 shares during the period. XTX Topco Ltd lifted its stake in RenovoRx by 58.6% in the 4th quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock valued at $42,000 after acquiring an additional 18,525 shares in the last quarter. Bleichroeder LP lifted its stake in RenovoRx by 11.4% in the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after acquiring an additional 61,379 shares in the last quarter. Wealthspire Advisors LLC acquired a new position in RenovoRx during the 4th quarter worth approximately $212,000. Finally, Citadel Advisors LLC acquired a new position in RenovoRx during the 3rd quarter worth approximately $154,000. 3.10% of the stock is currently owned by institutional investors.

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.