RenovoRx (NASDAQ:RNXT) Upgraded at Jones Trading

Jones Trading upgraded shares of RenovoRx (NASDAQ:RNXT) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on RNXT. Ascendiant Capital Markets upped their price target on RenovoRx from $12.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, November 21st. Wall Street Zen cut shares of RenovoRx from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of RenovoRx in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

RenovoRx Price Performance

Shares of NASDAQ:RNXT opened at $1.04 on Thursday. The stock has a market cap of $38.12 million, a price-to-earnings ratio of -2.89 and a beta of 1.31. The company has a 50 day moving average of $0.94 and a 200-day moving average of $1.06. RenovoRx has a one year low of $0.70 and a one year high of $1.50.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $0.27 million for the quarter, compared to analysts’ expectations of $0.41 million. RenovoRx had a negative net margin of 1,196.66% and a negative return on equity of 122.19%. Equities research analysts anticipate that RenovoRx will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On RenovoRx

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of RenovoRx by 9.9% in the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after purchasing an additional 31,730 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in RenovoRx in the 2nd quarter valued at approximately $98,000. Finally, Citadel Advisors LLC bought a new stake in RenovoRx in the 3rd quarter valued at approximately $154,000. Institutional investors own 3.10% of the company’s stock.

RenovoRx Company Profile

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.