RenovoRx’s (RNXT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of RenovoRx (NASDAQ:RNXT) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $3.00 target price on the stock.

Separately, Ascendiant Capital Markets upped their price objective on shares of RenovoRx from $8.25 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th.

RenovoRx Price Performance

Shares of RenovoRx stock opened at $0.88 on Friday. The firm has a market cap of $21.15 million, a price-to-earnings ratio of -1.55 and a beta of 1.15. The stock has a 50-day simple moving average of $1.07 and a 200-day simple moving average of $1.14. RenovoRx has a 52-week low of $0.77 and a 52-week high of $1.69.

RenovoRx (NASDAQ:RNXT) last posted its earnings results on Monday, March 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.17 million. As a group, equities research analysts predict that RenovoRx will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On RenovoRx

A number of large investors have recently added to or reduced their stakes in RNXT. Geode Capital Management LLC lifted its stake in shares of RenovoRx by 61.9% in the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after buying an additional 89,018 shares during the last quarter. Citadel Advisors LLC acquired a new position in RenovoRx during the 4th quarter worth $49,000. Finally, Renaissance Technologies LLC acquired a new position in RenovoRx during the 4th quarter worth $84,000. Institutional investors own 3.10% of the company’s stock.

RenovoRx Company Profile

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary targeted combination therapies to improve therapeutic outcomes for cancer patients undergoing treatment. Its lead product candidate is RenovoGem, an oncology drug-device combination product, consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.