FY2027 EPS Estimates for RenovoRx Lowered by HC Wainwright

RenovoRx, Inc. (NASDAQ:RNXT) – Investment analysts at HC Wainwright dropped their FY2027 earnings estimates for RenovoRx in a report released on Wednesday, April 8th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings of $0.00 per share for the year, down from their prior forecast of $0.05. HC Wainwright currently has a “Buy” rating and a $3.00 target price on the stock. The consensus estimate for RenovoRx’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for RenovoRx’s FY2028 earnings at $0.23 EPS, FY2029 earnings at $0.31 EPS and FY2030 earnings at $0.39 EPS.

Other equities research analysts also recently issued reports about the stock. JonesTrading upgraded shares of RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. Wall Street Zen downgraded shares of RenovoRx from a “hold” rating to a “strong sell” rating in a report on Saturday, April 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of RenovoRx in a report on Monday, December 29th. Finally, Ascendiant Capital Markets lifted their price target on shares of RenovoRx from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, RenovoRx presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

RenovoRx Price Performance

Shares of NASDAQ RNXT opened at $0.98 on Thursday. The company has a market cap of $44.08 million, a PE ratio of -3.06 and a beta of 1.22. RenovoRx has a 12 month low of $0.70 and a 12 month high of $1.45. The company has a 50-day simple moving average of $0.95 and a 200-day simple moving average of $0.99.

RenovoRx (NASDAQ:RNXT) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.42 million. RenovoRx had a negative net margin of 994.48% and a negative return on equity of 119.77%. During the same period in the previous year, the firm posted ($0.40) earnings per share.

Institutional Investors Weigh In On RenovoRx

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd boosted its position in shares of RenovoRx by 58.6% in the fourth quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock worth $42,000 after acquiring an additional 18,525 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of RenovoRx in the second quarter worth approximately $98,000. Citadel Advisors LLC acquired a new stake in shares of RenovoRx in the third quarter worth approximately $154,000. Wealthspire Advisors LLC acquired a new stake in shares of RenovoRx in the fourth quarter worth approximately $212,000. Finally, Geode Capital Management LLC boosted its position 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 worth $467,000 after acquiring an additional 31,730 shares during the last quarter. 3.10% of the stock is owned by institutional investors and hedge funds.

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.