AIGH Capital Management LLC Decreases Position in RenovoRx, Inc. $RNXT

AIGH Capital Management LLC cut its holdings in RenovoRx, Inc. (NASDAQ:RNXT) by 24.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,615,193 shares of the company’s stock after selling 852,082 shares during the period. RenovoRx makes up 0.9% of AIGH Capital Management LLC’s portfolio, making the stock its 26th largest position. AIGH Capital Management LLC owned 7.14% of RenovoRx worth $3,321,000 as of its most recent SEC filing.

Separately, Northwestern Mutual Wealth Management Co. purchased a new position in shares of RenovoRx in the second quarter worth about $98,000. 3.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RNXT shares. Ascendiant Capital Markets increased their target price on RenovoRx from $12.00 to $12.50 and gave the company a “buy” rating in a report on Friday, November 21st. Wall Street Zen lowered RenovoRx from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.75.

RenovoRx Stock Performance

RNXT opened at $1.00 on Friday. RenovoRx, Inc. has a 52-week low of $0.70 and a 52-week high of $1.50. The stock has a market capitalization of $36.50 million, a PE ratio of -2.77 and a beta of 1.31. The stock’s 50 day moving average price is $0.93 and its 200-day moving average price is $1.08.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.41 million. RenovoRx had a negative return on equity of 122.19% and a negative net margin of 1,196.66%. Research analysts forecast that RenovoRx, Inc. will post -0.4 EPS for the current fiscal year.

About RenovoRx

RenovoRx, Inc is a clinical-stage medical technology company focused on the development of proprietary drug-device combination therapies for the treatment of solid tumor malignancies. The company’s lead product candidate, RenovoCath™, is an intra-arterial catheter system designed to deliver high concentrations of chemotherapeutic agents directly to tumor sites while minimizing systemic exposure. RenovoRx seeks to improve clinical outcomes and reduce adverse effects by enhancing drug delivery precision in hard-to-treat cancers.

RenovoCath™ is being evaluated in multiple clinical trials targeting advanced pancreatic cancer and metastatic colorectal cancer, among other solid tumors.