RenovoRx (NASDAQ:RNXT) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of RenovoRx (NASDAQ:RNXT) in a report released on Thursday morning,Benzinga reports. The firm issued a buy rating and a $3.00 target price on the stock.

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

RenovoRx Stock Performance

Shares of RNXT stock opened at $1.02 on Thursday. The company has a market capitalization of $24.48 million, a price-to-earnings ratio of -1.79 and a beta of 1.15. RenovoRx has a 52 week low of $0.77 and a 52 week high of $1.69. The company has a 50-day simple moving average of $1.13 and a 200 day simple moving average of $1.15.

Institutional Investors Weigh In On RenovoRx

A number of hedge funds and other institutional investors have recently modified their holdings of RNXT. Citadel Advisors LLC acquired a new position in shares of RenovoRx in the fourth quarter valued at about $49,000. Renaissance Technologies LLC bought a new stake in RenovoRx in the 4th quarter valued at about $84,000. Finally, Geode Capital Management LLC grew its position in shares of RenovoRx by 61.9% during the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after purchasing an additional 89,018 shares in the last quarter. 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.