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

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

RNXT has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. Ascendiant Capital Markets boosted their price target on RenovoRx from $12.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, Jones Trading upgraded shares of RenovoRx to a “strong-buy” rating in a report on Thursday, January 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. According to MarketBeat.com, RenovoRx presently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

RenovoRx Stock Up 0.3%

NASDAQ RNXT opened at $0.93 on Friday. The firm has a market cap of $34.21 million, a PE ratio of -2.59 and a beta of 1.31. The company has a 50 day moving average price of $0.96 and a 200 day moving average price of $1.04. RenovoRx has a 52 week low of $0.70 and a 52 week high of $1.45.

RenovoRx (NASDAQ:RNXT) last announced its earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.41 million. RenovoRx had a negative net margin of 1,196.66% and a negative return on equity of 122.19%. On average, equities research analysts anticipate that RenovoRx will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in 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 buying an additional 31,730 shares during the last quarter. Bleichroeder LP lifted its stake in 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 period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of RenovoRx in the 2nd quarter valued at $98,000. Citadel Advisors LLC purchased a new stake in shares of RenovoRx in the 3rd quarter valued at $154,000. Finally, AIGH Capital Management LLC increased its stake in shares of RenovoRx by 8.4% in the fourth quarter. AIGH Capital Management LLC now owns 2,833,894 shares of the company’s stock worth $2,380,000 after acquiring an additional 218,701 shares during the period. 3.10% of the stock is currently owned by hedge funds and other 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.