RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Update

RenovoRx, Inc. (NASDAQ:RNXT) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 617,404 shares, an increase of 41.9% from the February 26th total of 435,099 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average trading volume of 304,230 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RNXT. Wall Street Zen raised shares of RenovoRx from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Ascendiant Capital Markets increased their price target on RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. JonesTrading raised RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Institutional Investors Weigh In On RenovoRx

A number of institutional investors have recently modified their holdings of the business. XTX Topco Ltd increased its stake in shares of 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 purchasing an additional 18,525 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in RenovoRx in the second quarter valued at approximately $98,000. Citadel Advisors LLC purchased a new stake in shares of RenovoRx in the third quarter valued at approximately $154,000. Wealthspire Advisors LLC purchased a new stake in shares of RenovoRx in the fourth quarter valued at approximately $212,000. Finally, Geode Capital Management LLC raised its stake in shares of RenovoRx by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock worth $467,000 after buying an additional 31,730 shares during the period. 3.10% of the stock is currently owned by institutional investors and hedge funds.

RenovoRx Stock Performance

NASDAQ RNXT traded down $0.03 during mid-day trading on Friday, reaching $1.13. 531,910 shares of the stock were exchanged, compared to its average volume of 490,392. The company has a market capitalization of $41.41 million, a P/E ratio of -3.14 and a beta of 1.34. The business’s 50 day moving average is $0.95 and its 200-day moving average is $1.01. RenovoRx has a 1 year low of $0.70 and a 1 year high of $1.45.

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.