Wall Street Zen Upgrades RenovoRx (NASDAQ:RNXT) to “Hold”

RenovoRx (NASDAQ:RNXT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Several other equities research analysts have also recently commented on RNXT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. Ascendiant Capital Markets increased their target price on RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, JonesTrading raised RenovoRx to a “strong-buy” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, RenovoRx presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

RenovoRx Stock Up 3.4%

RenovoRx stock opened at $0.84 on Friday. The stock has a market capitalization of $30.61 million, a PE ratio of -2.32 and a beta of 1.34. RenovoRx has a twelve month low of $0.70 and a twelve month high of $1.45. The company has a 50 day moving average of $0.95 and a 200-day moving average of $1.01.

Institutional Trading of RenovoRx

A number of institutional investors have recently made changes to their positions in the business. AIGH Capital Management LLC boosted its holdings in RenovoRx by 8.4% during the fourth 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 during the last quarter. Bleichroeder LP increased its stake in RenovoRx by 11.4% in the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after buying an additional 61,379 shares during the last quarter. Geode Capital Management LLC increased its stake in RenovoRx by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after buying an additional 31,730 shares during the last quarter. Wealthspire Advisors LLC bought a new stake in RenovoRx during the 4th quarter worth about $212,000. Finally, Citadel Advisors LLC acquired a new position in shares of RenovoRx during the 3rd quarter worth about $154,000. Institutional investors own 3.10% of the company’s stock.

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.