RenovoRx (NASDAQ:RNXT) Price Target Raised to $13.00 at Ascendiant Capital Markets

RenovoRx (NASDAQ:RNXT) had its price objective hoisted by Ascendiant Capital Markets from $12.50 to $13.00 in a research note released on Tuesday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

RNXT has been the topic of a number of other reports. Wall Street Zen raised shares of RenovoRx from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. Finally, JonesTrading raised RenovoRx to a “strong-buy” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

RenovoRx Trading Up 5.0%

RenovoRx stock opened at $0.98 on Tuesday. The company has a market cap of $35.92 million, a PE ratio of -2.72 and a beta of 1.31. RenovoRx has a 1 year low of $0.70 and a 1 year high of $1.45. The company’s 50-day moving average is $0.96 and its two-hundred day moving average is $1.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bleichroeder LP raised its position in shares of RenovoRx by 11.4% during the fourth quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock worth $504,000 after purchasing an additional 61,379 shares during the period. Wealthspire Advisors LLC bought a new stake in RenovoRx during the 4th quarter worth approximately $212,000. AIGH Capital Management LLC increased its stake in RenovoRx by 8.4% during 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. Citadel Advisors LLC acquired a new stake in RenovoRx during the 3rd quarter worth approximately $154,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in RenovoRx in the second quarter valued at approximately $98,000. 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.