Wall Street Zen Downgrades RenovoRx (NASDAQ:RNXT) to Sell

RenovoRx (NASDAQ:RNXT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other research analysts also recently commented on RNXT. JonesTrading raised shares of RenovoRx to a “strong-buy” rating in a research report on Thursday, January 29th. Ascendiant Capital Markets upped their target price on shares of RenovoRx from $12.50 to $13.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, RenovoRx currently has an average rating of “Moderate Buy” and an average price target of $8.00.

RenovoRx Trading Down 6.0%

Shares of RNXT opened at $0.79 on Friday. The company has a market cap of $28.96 million, a price-to-earnings ratio of -2.20 and a beta of 1.34. RenovoRx has a 1-year low of $0.70 and a 1-year high of $1.45. The company’s fifty day simple moving average is $0.95 and its 200 day simple moving average is $1.01.

Institutional Trading of RenovoRx

Institutional investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC raised its stake in RenovoRx by 8.4% in the 4th quarter. AIGH Capital Management LLC now owns 2,833,894 shares of the company’s stock worth $2,380,000 after purchasing an additional 218,701 shares in the last quarter. Bleichroeder LP grew its position in shares of RenovoRx by 11.4% during the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock worth $504,000 after purchasing an additional 61,379 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of RenovoRx by 9.9% during the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock worth $467,000 after purchasing an additional 31,730 shares during the period. Wealthspire Advisors LLC bought a new position in shares of RenovoRx during the fourth quarter worth approximately $212,000. Finally, Citadel Advisors LLC acquired a new stake in shares of RenovoRx in the third quarter valued at approximately $154,000. 3.10% of the stock is currently owned by institutional investors.

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.