HC Wainwright Weighs in on RenovoRx FY2024 Earnings

RenovoRx, Inc. (NASDAQ:RNXT) – HC Wainwright issued their FY2024 earnings per share (EPS) estimates for RenovoRx in a research report issued to clients and investors on Thursday, March 27th. HC Wainwright analyst S. Ramakanth expects that the company will earn ($0.41) per share for the year. HC Wainwright has a “Buy” rating and a $3.00 price target on the stock. The consensus estimate for RenovoRx’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for RenovoRx’s Q4 2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.32) EPS, FY2026 earnings at ($0.25) EPS, FY2027 earnings at $0.08 EPS, FY2028 earnings at $0.26 EPS and FY2029 earnings at $0.38 EPS.

Separately, Ascendiant Capital Markets lifted their price target on shares of RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

RenovoRx Trading Down 1.0 %

Shares of RNXT stock opened at $0.99 on Monday. The company’s fifty day moving average price is $1.11 and its 200-day moving average price is $1.15. The stock has a market cap of $23.76 million, a PE ratio of -1.74 and a beta of 1.15. RenovoRx has a 12 month low of $0.77 and a 12 month high of $1.69.

Institutional Trading of RenovoRx

Several hedge funds and other institutional investors have recently made changes to their positions in RNXT. Citadel Advisors LLC purchased a new position in RenovoRx during the fourth quarter valued at $49,000. Renaissance Technologies LLC purchased a new position in shares of RenovoRx in the 4th quarter worth about $84,000. Finally, Geode Capital Management LLC raised its position in shares of RenovoRx by 61.9% in the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after purchasing an additional 89,018 shares during the last quarter. Hedge funds and other institutional investors own 3.10% of the company’s stock.

About RenovoRx

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.