RenovoRx (NASDAQ:RNXT) Stock Price Up 1.4% – What’s Next?

Shares of RenovoRx, Inc. (NASDAQ:RNXT) traded up 1.4% on Friday . The company traded as high as $1.47 and last traded at $1.40. 129,511 shares traded hands during trading, an increase of 165% from the average session volume of 48,814 shares. The stock had previously closed at $1.38.

Analyst Upgrades and Downgrades

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

RenovoRx Stock Up 1.4 %

The firm has a market capitalization of $33.60 million, a price-to-earnings ratio of -2.46 and a beta of 1.11. The stock has a 50 day moving average of $1.09 and a 200 day moving average of $1.12.

Institutional Investors Weigh In On RenovoRx

An institutional investor recently raised its position in RenovoRx stock. Geode Capital Management LLC boosted its holdings in RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,937 shares of the company’s stock after purchasing an additional 89,018 shares during the quarter. Geode Capital Management LLC owned approximately 0.97% of RenovoRx worth $247,000 at the end of the most recent quarter. 3.10% of the stock is currently owned by institutional investors and hedge funds.

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.