RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Down 20.6% in February

RenovoRx, Inc. (NASDAQ:RNXT) was the recipient of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 444,056 shares, a decline of 20.6% from the January 29th total of 559,162 shares. Based on an average trading volume of 168,801 shares, the short-interest ratio is presently 2.6 days. Currently, 1.3% of the shares of the company are sold short. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 168,801 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RNXT. JonesTrading raised RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. Weiss Ratings restated a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. Ascendiant Capital Markets lifted their target price on shares of RenovoRx from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen raised shares of RenovoRx from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

RenovoRx Stock Performance

Shares of NASDAQ:RNXT opened at $0.88 on Monday. The company’s fifty day moving average is $0.96 and its 200-day moving average is $1.02. RenovoRx has a 52 week low of $0.70 and a 52 week high of $1.45. The company has a market capitalization of $32.36 million, a PE ratio of -2.45 and a beta of 1.34.

Institutional Investors Weigh In On RenovoRx

A number of large investors have recently bought and sold shares of RNXT. XTX Topco Ltd increased its holdings in RenovoRx by 58.6% during the 4th quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock valued at $42,000 after purchasing an additional 18,525 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $467,000 after buying an additional 31,730 shares in the last quarter. Bleichroeder LP raised its holdings in shares of RenovoRx by 11.4% in the fourth 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. Northwestern Mutual Wealth Management Co. bought a new position in shares of RenovoRx in the second quarter valued at about $98,000. Finally, Citadel Advisors LLC acquired a new position in RenovoRx during the 3rd quarter worth about $154,000. 3.10% of the stock is currently owned by 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.