RenovoRx (NASDAQ:RNXT) Price Target Raised to $9.00

RenovoRx (NASDAQ:RNXT) had its target price increased by Ascendiant Capital Markets from $8.25 to $9.00 in a research note published on Tuesday morning,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

RenovoRx Price Performance

Shares of RNXT stock opened at $1.32 on Tuesday. The business has a 50-day moving average of $1.12 and a 200 day moving average of $1.12. RenovoRx has a 1-year low of $0.65 and a 1-year high of $2.35. The stock has a market capitalization of $31.68 million, a PE ratio of -2.32 and a beta of 1.10.

Institutional Inflows and Outflows

An institutional investor recently raised its position in RenovoRx stock. Geode Capital Management LLC boosted its position in RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 232,937 shares of the company’s stock after acquiring an additional 89,018 shares during the period. Geode Capital Management LLC owned 0.97% of RenovoRx worth $247,000 at the end of the most recent reporting period. Institutional investors own 3.10% of the company’s stock.

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.