RenovoRx (NASDAQ:RNXT) Stock Rating Upgraded by Wall Street Zen

RenovoRx (NASDAQ:RNXT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

RNXT has been the subject of several other reports. Jones Trading raised shares of RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. Ascendiant Capital Markets raised their price target on shares of RenovoRx from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, RenovoRx has an average rating of “Moderate Buy” and a consensus target price of $7.75.

RenovoRx Stock Up 0.3%

Shares of RNXT opened at $0.93 on Friday. RenovoRx has a 52 week low of $0.70 and a 52 week high of $1.45. The company has a market capitalization of $34.21 million, a price-to-earnings ratio of -2.59 and a beta of 1.31. The stock’s 50-day moving average price is $0.96 and its 200-day moving average price is $1.04.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). RenovoRx had a negative return on equity of 122.19% and a negative net margin of 1,196.66%.The company had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.41 million. As a group, equities analysts anticipate that RenovoRx will post -0.4 EPS for the current fiscal year.

Institutional Trading of RenovoRx

Institutional investors have recently modified their holdings of the stock. Bleichroeder LP raised its position in shares of RenovoRx by 11.4% during the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock worth $504,000 after purchasing an additional 61,379 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in RenovoRx during the 4th quarter worth approximately $212,000. AIGH Capital Management LLC raised its holdings in shares of RenovoRx by 8.4% during the fourth quarter. AIGH Capital Management LLC now owns 2,833,894 shares of the company’s stock valued at $2,380,000 after acquiring an additional 218,701 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of RenovoRx during the third quarter valued at approximately $154,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of RenovoRx in the second quarter valued at approximately $98,000. Institutional investors and hedge funds own 3.10% of the company’s stock.

About RenovoRx

RenovoRx, Inc is a clinical-stage medical technology company focused on the development of proprietary drug-device combination therapies for the treatment of solid tumor malignancies. The company’s lead product candidate, RenovoCath™, is an intra-arterial catheter system designed to deliver high concentrations of chemotherapeutic agents directly to tumor sites while minimizing systemic exposure. RenovoRx seeks to improve clinical outcomes and reduce adverse effects by enhancing drug delivery precision in hard-to-treat cancers.

RenovoCath™ is being evaluated in multiple clinical trials targeting advanced pancreatic cancer and metastatic colorectal cancer, among other solid tumors.