RenovoRx, Inc. (NASDAQ:RNXT) Sees Large Drop in Short Interest

RenovoRx, Inc. (NASDAQ:RNXT) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 71,900 shares, a drop of 21.8% from the October 15th total of 91,900 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 33,000 shares, the short-interest ratio is currently 2.2 days.

RenovoRx Stock Performance

RNXT stock opened at $1.09 on Friday. The firm has a market cap of $26.15 million, a PE ratio of -1.91 and a beta of 0.99. RenovoRx has a 1 year low of $0.53 and a 1 year high of $2.35. The company has a fifty day simple moving average of $1.04 and a 200 day simple moving average of $1.13.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets boosted their price target on RenovoRx from $8.00 to $8.25 and gave the company a “buy” rating in a research note on Thursday, September 12th.

Hedge Funds Weigh In On RenovoRx

A hedge fund recently raised its stake in RenovoRx stock. Geode Capital Management LLC increased its stake in shares of RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 232,937 shares of the company’s stock after acquiring an additional 89,018 shares during the period. Geode Capital Management LLC owned 0.97% of RenovoRx worth $247,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.10% of the company’s stock.

About RenovoRx

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.