RenovoRx (NASDAQ:RNXT) Upgraded to Hold at Wall Street Zen

RenovoRx (NASDAQ:RNXT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Friday.

Other analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of RenovoRx in a research report on Monday, May 19th. Ascendiant Capital Markets upped their target price on shares of RenovoRx from $11.00 to $11.50 and gave the company a “buy” rating in a report on Thursday, June 5th.

RenovoRx Stock Performance

Shares of RNXT opened at $1.30 on Friday. RenovoRx has a 12-month low of $0.75 and a 12-month high of $1.69. The stock has a market cap of $47.54 million, a P/E ratio of -3.25 and a beta of 1.27. The company has a 50-day moving average of $1.30 and a two-hundred day moving average of $1.17.

RenovoRx (NASDAQ:RNXT) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.23 million. As a group, analysts forecast that RenovoRx will post -0.4 EPS for the current fiscal year.

Insider Activity

In other RenovoRx news, insider Ramtin Agah acquired 21,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $1.40 per share, with a total value of $29,400.00. Following the completion of the transaction, the insider directly owned 734,460 shares in the company, valued at approximately $1,028,244. This trade represents a 2.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 9.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On RenovoRx

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in shares of RenovoRx during the 4th quarter worth $84,000. Citadel Advisors LLC acquired a new stake in RenovoRx during the fourth quarter worth about $49,000. AIGH Capital Management LLC purchased a new position in shares of RenovoRx in the 1st quarter worth about $3,433,000. Chicago Partners Investment Group LLC acquired a new position in shares of RenovoRx in the 1st quarter valued at about $97,000. Finally, HighTower Advisors LLC acquired a new position in shares of RenovoRx in the 1st quarter valued at about $40,000. 3.10% of the stock is currently owned by hedge funds and other institutional investors.

RenovoRx Company Profile

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.