RenovoRx (NASDAQ:RNXT) Earns Buy Rating from HC Wainwright

RenovoRx (NASDAQ:RNXT)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 206.62% from the stock’s previous close. HC Wainwright also issued estimates for RenovoRx’s FY2027 earnings at $0.00 EPS, FY2028 earnings at $0.23 EPS, FY2029 earnings at $0.31 EPS and FY2030 earnings at $0.39 EPS.

Several other brokerages also recently issued reports on RNXT. JonesTrading raised RenovoRx to a “strong-buy” rating in a research note on Thursday, January 29th. Wall Street Zen lowered RenovoRx from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 4th. Ascendiant Capital Markets upped their target price on RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

RenovoRx Trading Up 4.2%

Shares of RenovoRx stock opened at $0.98 on Wednesday. The stock has a 50-day moving average price of $0.95 and a 200 day moving average price of $0.99. The company has a market cap of $44.08 million, a P/E ratio of -3.06 and a beta of 1.22. RenovoRx has a 1 year low of $0.70 and a 1 year high of $1.45.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.42 million. RenovoRx had a negative return on equity of 119.77% and a negative net margin of 994.48%.During the same period in the prior year, the business earned ($0.40) EPS. On average, equities analysts forecast that RenovoRx will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd increased its position in RenovoRx by 58.6% in the 4th quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock worth $42,000 after purchasing an additional 18,525 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of RenovoRx by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after acquiring an additional 31,730 shares during the last quarter. Bleichroeder LP increased its holdings in shares of RenovoRx by 11.4% during the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after acquiring an additional 61,379 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of RenovoRx during the 2nd quarter valued at about $98,000. Finally, Citadel Advisors LLC acquired a new position in shares of RenovoRx during the 3rd quarter valued at about $154,000. 3.10% of the stock is owned by institutional investors and hedge funds.

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.