RenovoRx’s (RNXT) Buy Rating Reaffirmed at HC Wainwright

RenovoRx (NASDAQ:RNXT)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $3.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 240.37% from the company’s current price.

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

RenovoRx Price Performance

Shares of NASDAQ RNXT opened at $0.88 on Friday. The business has a fifty day moving average price of $1.07 and a two-hundred day moving average price of $1.14. The stock has a market capitalization of $21.15 million, a PE ratio of -1.55 and a beta of 1.12. RenovoRx has a fifty-two week low of $0.77 and a fifty-two week high of $1.69.

RenovoRx (NASDAQ:RNXT) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.17 million. On average, equities analysts expect that RenovoRx will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RNXT. Citadel Advisors LLC bought a new position in shares of RenovoRx in the fourth quarter worth about $49,000. Renaissance Technologies LLC acquired a new position in RenovoRx during the 4th quarter worth approximately $84,000. Finally, Geode Capital Management LLC lifted its stake in RenovoRx by 61.9% in the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after purchasing an additional 89,018 shares during the last quarter. 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.