RenovoRx, Inc. (NASDAQ:RNXT) Sees Large Decrease in Short Interest

RenovoRx, Inc. (NASDAQ:RNXT) was the recipient of a large decrease in short interest in February. As of February 13th, there was short interest totaling 444,056 shares, a decrease of 20.6% from the January 29th total of 559,162 shares. Based on an average daily trading volume, of 168,801 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.3% of the company’s shares are short sold. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 168,801 shares, the days-to-cover ratio is presently 2.6 days.

RenovoRx Stock Performance

Shares of RenovoRx stock opened at $0.88 on Monday. The firm has a market cap of $32.36 million, a PE ratio of -2.45 and a beta of 1.34. The business’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $1.02. RenovoRx has a 52-week low of $0.70 and a 52-week high of $1.45.

Institutional Trading of RenovoRx

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd boosted its holdings in RenovoRx by 58.6% during the fourth quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock worth $42,000 after purchasing an additional 18,525 shares during the last quarter. Geode Capital Management LLC lifted its position in RenovoRx by 9.9% during the 2nd 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 in the last quarter. Bleichroeder LP boosted its stake 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 buying an additional 61,379 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of RenovoRx in the 2nd quarter valued at about $98,000. Finally, Citadel Advisors LLC bought a new position in shares of RenovoRx in the 3rd quarter valued at about $154,000. Institutional investors own 3.10% of the company’s stock.

Analyst Ratings Changes

RNXT has been the subject of a number of recent research reports. Wall Street Zen raised shares of RenovoRx from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Ascendiant Capital Markets increased their price target on RenovoRx from $12.50 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. Finally, JonesTrading upgraded RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. One investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

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.