RenovoRx (NASDAQ:RNXT) Stock Price Up 2.5% – Still a Buy?

RenovoRx, Inc. (NASDAQ:RNXT) shares rose 2.5% during trading on Thursday . The stock traded as high as $1.09 and last traded at $1.03. Approximately 5,062 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 47,122 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

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 report on Thursday, September 12th.

RenovoRx Stock Performance

The company’s fifty day moving average price is $1.08 and its 200 day moving average price is $1.19. The firm has a market capitalization of $24.67 million, a price-to-earnings ratio of -1.43 and a beta of 0.99.

RenovoRx (NASDAQ:RNXT) last posted its earnings results on Tuesday, August 13th. The company reported ($0.10) EPS for the quarter.

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.