HC Wainwright Reaffirms “Buy” Rating for RenovoRx (NASDAQ:RNXT)

RenovoRx (NASDAQ:RNXT)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 240.37% from the stock’s previous close.

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

RenovoRx Stock Down 3.1 %

Shares of RenovoRx stock opened at $0.88 on Friday. RenovoRx has a 12-month low of $0.77 and a 12-month high of $1.69. The business’s 50 day moving average is $1.07 and its 200-day moving average is $1.14. The stock has a market cap of $21.15 million, a P/E ratio of -1.55 and a beta of 1.12.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.17 million. On average, sell-side analysts expect that RenovoRx will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of RenovoRx by 61.9% in the third 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 last quarter. Renaissance Technologies LLC acquired a new position in RenovoRx in the 4th quarter valued at $84,000. Finally, Citadel Advisors LLC bought a new position in RenovoRx during the 4th quarter worth $49,000. 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.