Renovaro (NASDAQ:RENB) Trading Up 6.5% – Still a Buy?

Renovaro Inc. (NASDAQ:RENB) rose 6.5% during trading on Wednesday . The stock traded as high as $0.55 and last traded at $0.50. Approximately 450,750 shares changed hands during trading, a decline of 16% from the average daily volume of 535,915 shares. The stock had previously closed at $0.47.

Renovaro Price Performance

The stock has a fifty day simple moving average of $0.55 and a two-hundred day simple moving average of $0.93. The firm has a market capitalization of $79.96 million, a P/E ratio of -0.52 and a beta of 0.55.

Renovaro (NASDAQ:RENB) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.45) EPS for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RENB. Barclays PLC increased its stake in Renovaro by 315.7% in the 3rd quarter. Barclays PLC now owns 69,531 shares of the company’s stock valued at $34,000 after buying an additional 52,804 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Renovaro during the first quarter valued at approximately $46,000. Rhumbline Advisers purchased a new stake in shares of Renovaro during the second quarter valued at approximately $79,000. Tidal Investments LLC bought a new stake in Renovaro during the first quarter worth $98,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Renovaro during the 2nd quarter valued at $220,000. 71.41% of the stock is owned by institutional investors.

Renovaro Company Profile

Renovaro Inc, a pre-clinical stage biotechnology company, engages in the research and development of pharmaceutical and biological products for the human treatment of human immunodeficiency virus (HIV), hepatitis B virus (HBV), and cancer in the United States. The company’s product pipeline includes RENB-HV-01 for autologous HIV curative treatment; RENB-HV-12, a therapeutic HIV vaccine; and RENB-HB-01, a gene therapy curative treatment for HBV.