RenovoRx’s (RNXT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of RenovoRx (NASDAQ:RNXT) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $3.00 price objective on the stock.

Separately, Ascendiant Capital Markets upped their price objective on shares of RenovoRx from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, April 28th.

RenovoRx Stock Performance

NASDAQ:RNXT opened at $1.24 on Monday. RenovoRx has a one year low of $0.75 and a one year high of $1.69. The stock has a market cap of $45.32 million, a PE ratio of -2.18 and a beta of 1.12. The stock has a 50 day moving average price of $0.98 and a 200 day moving average price of $1.14.

RenovoRx (NASDAQ:RNXT) last issued its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.23 million. As a group, analysts predict that RenovoRx will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of RenovoRx

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in RenovoRx in the fourth quarter worth approximately $84,000. Citadel Advisors LLC acquired a new position in shares of RenovoRx in the 4th quarter valued at $49,000. AIGH Capital Management LLC purchased a new position in shares of RenovoRx during the 1st quarter worth $3,433,000. Chicago Partners Investment Group LLC purchased a new position in shares of RenovoRx during the 1st quarter worth $97,000. Finally, HighTower Advisors LLC acquired a new stake in shares of RenovoRx during the 1st quarter worth about $40,000. Hedge funds and other institutional investors 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.