HC Wainwright Estimates RenovoRx FY2024 Earnings

RenovoRx, Inc. (NASDAQ:RNXT) – Equities research analysts at HC Wainwright issued their FY2024 earnings estimates for RenovoRx in a research note issued on Thursday, March 27th. HC Wainwright analyst S. Ramakanth forecasts that the company will post earnings per share of ($0.41) for the year. HC Wainwright currently has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for RenovoRx’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for RenovoRx’s Q4 2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.32) EPS, FY2026 earnings at ($0.25) EPS, FY2027 earnings at $0.08 EPS, FY2028 earnings at $0.26 EPS and FY2029 earnings at $0.38 EPS.

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

RenovoRx Price Performance

RNXT opened at $1.00 on Monday. The stock’s 50 day simple moving average is $1.12 and its 200 day simple moving average is $1.15. The firm has a market cap of $24.00 million, a price-to-earnings ratio of -1.75 and a beta of 1.15. RenovoRx has a 1 year low of $0.77 and a 1 year high of $1.69.

Institutional Trading of RenovoRx

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in RenovoRx by 61.9% during the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after purchasing an additional 89,018 shares during the period. Citadel Advisors LLC bought a new stake in shares of RenovoRx in the 4th quarter worth approximately $49,000. Finally, Renaissance Technologies LLC purchased a new position in shares of RenovoRx during the fourth quarter valued at approximately $84,000. 3.10% of the stock is currently owned by hedge funds and other institutional investors.

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.