Renovacor (NYSE:RCOR) Stock Rating Lowered by Zacks Investment Research

Renovacor (NYSE:RCORGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Renovacor Inc. is an early?stage biotechnology company developing adeno-associated virus based gene therapies for devastating cardiovascular and central nervous system diseases resulting from BAG3 gene variants. Renovacor Inc., formerly known as Chardan Healthcare Acquisition 2 Corp., is based in NEW YORK. “

Separately, Chardan Capital reissued a “buy” rating and issued a $20.00 target price on shares of Renovacor in a report on Friday, May 13th.

Shares of RCOR stock opened at $2.03 on Thursday. The company’s fifty day simple moving average is $3.81 and its two-hundred day simple moving average is $6.18. Renovacor has a 52 week low of $1.96 and a 52 week high of $10.74.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cowen AND Company LLC purchased a new position in shares of Renovacor during the 3rd quarter worth about $91,000. State Street Corp purchased a new stake in Renovacor in the 1st quarter worth about $50,000. Northern Trust Corp bought a new stake in Renovacor in the fourth quarter worth about $130,000. Morgan Stanley purchased a new position in shares of Renovacor during the third quarter valued at approximately $463,000. Finally, 683 Capital Management LLC bought a new position in shares of Renovacor during the third quarter valued at approximately $1,584,000. 48.17% of the stock is currently owned by institutional investors and hedge funds.

Renovacor Company Profile (Get Rating)

Renovacor, Inc, a biotechnology company, focuses on delivering various precision therapies to enhance the lives of patients and families battling genetically-driven cardiovascular and mechanistically-related diseases. It primarily focuses on the treatment of BCL2-associated athanogene 3 (BAG3) mutation-associated dilated cardiomyopathy (DCM).

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