Ascendiant Capital Markets Increases RenovoRx (NASDAQ:RNXT) Price Target to $13.00

RenovoRx (NASDAQ:RNXT) had its price objective hoisted by analysts at Ascendiant Capital Markets from $12.50 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

RNXT has been the topic of several other research reports. JonesTrading raised shares of RenovoRx to a “strong-buy” rating in a research report on Thursday, January 29th. Wall Street Zen upgraded shares of RenovoRx from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

RenovoRx Price Performance

Shares of NASDAQ RNXT opened at $1.00 on Tuesday. RenovoRx has a one year low of $0.70 and a one year high of $1.45. The business’s 50-day moving average price is $0.96 and its two-hundred day moving average price is $1.03. The company has a market capitalization of $36.62 million, a P/E ratio of -2.78 and a beta of 1.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bleichroeder LP increased its stake in shares of RenovoRx by 11.4% in the fourth 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 period. Wealthspire Advisors LLC bought a new stake in RenovoRx during the 4th quarter valued at approximately $212,000. Citadel Advisors LLC acquired a new stake in RenovoRx in the 3rd quarter valued at approximately $154,000. Northwestern Mutual Wealth Management Co. bought a new position in RenovoRx in the 2nd quarter worth approximately $98,000. Finally, Geode Capital Management LLC lifted its holdings in shares of RenovoRx by 9.9% during the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock worth $467,000 after buying an additional 31,730 shares during the last quarter. 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.