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

RenovoRx (NASDAQ:RNXT) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also commented on the company. Weiss Ratings lowered RenovoRx from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. Ascendiant Capital Markets lifted their target price on RenovoRx from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of RenovoRx in a research report on Wednesday, April 8th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.50.

RenovoRx Trading Down 1.8%

Shares of NASDAQ RNXT opened at $0.87 on Friday. RenovoRx has a 12-month low of $0.70 and a 12-month high of $1.45. The firm has a market capitalization of $38.98 million, a price-to-earnings ratio of -2.62 and a beta of 0.99. The firm has a 50 day moving average of $0.90 and a 200 day moving average of $0.93.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $0.56 million for the quarter, compared to the consensus estimate of $0.47 million. RenovoRx had a negative net margin of 823.98% and a negative return on equity of 135.03%. Sell-side analysts predict that RenovoRx will post -0.31 EPS for the current year.

Institutional Investors Weigh In On RenovoRx

A number of institutional investors and hedge funds have recently bought and sold shares of RNXT. AIGH Capital Management LLC lifted its position in shares of RenovoRx by 30.8% in the first quarter. AIGH Capital Management LLC now owns 3,706,197 shares of the company’s stock valued at $3,682,000 after acquiring an additional 872,303 shares in the last quarter. Bleichroeder LP grew its position in shares of RenovoRx by 11.4% during 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 in the last quarter. Geode Capital Management LLC grew its position 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 purchasing an additional 31,730 shares in the last quarter. XTX Topco Ltd grew its position in shares of 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 in the last quarter. Finally, Wealthspire Advisors LLC bought a new stake in RenovoRx during the 4th quarter valued at approximately $212,000. 3.10% of the stock is owned by institutional investors.

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.