RenovoRx (NASDAQ:RNXT) Shares Cross Below 200-Day Moving Average – What’s Next?

RenovoRx, Inc. (NASDAQ:RNXT) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $1.11 and traded as low as $1.0350. RenovoRx shares last traded at $1.04, with a volume of 815,148 shares trading hands.

Analyst Ratings Changes

RNXT has been the subject of several research analyst reports. Weiss Ratings raised RenovoRx from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 2nd. Wall Street Zen lowered shares of RenovoRx from a “hold” rating to a “sell” rating in a research report on Monday, November 9th. One equities 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.50.

RenovoRx Price Performance

The firm has a market cap of $50.18 million, a PE ratio of -3.35 and a beta of 1.12. The business has a 50-day moving average price of $1.45 and a two-hundred day moving average price of $1.11.

RenovoRx (NASDAQ:RNXT) last released its earnings results on Thursday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). RenovoRx had a negative net margin of 469.02% and a negative return on equity of 133.49%. The firm had revenue of $1.07 million during the quarter, compared to analysts’ expectations of $1.06 million. Equities analysts expect that RenovoRx, Inc. will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RenovoRx

An institutional investor recently bought a new stake in RenovoRx stock. T3 Companies LLC bought a new position in shares of RenovoRx, Inc. (NASDAQ:RNXT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 96,800 shares of the company’s stock, valued at approximately $151,000. T3 Companies LLC owned about 0.21% of RenovoRx as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 3.10% of the company’s stock.

About RenovoRx

RenovoRx, Inc. is a clinical-stage biopharmaceutical company developing treatments for solid tumors. Its approach is designed to deliver therapy directly to targeted tissue through the arteries that supply it, with the goal of limiting exposure to the rest of the body. The company’s platform includes RenovoCath, a catheter cleared by the U.S. Food and Drug Administration for the localized infusion of therapeutic agents. RenovoRx is also evaluating RenovoGem, a combination of its delivery approach and the chemotherapy drug gemcitabine, for patients with locally advanced pancreatic cancer.