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

RenovoRx, Inc. (NASDAQ:RNXT) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 65,500 shares, a growth of 274.3% from the March 31st total of 17,500 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 47,900 shares, the short-interest ratio is presently 1.4 days.

Analyst Ratings Changes

Separately, Alliance Global Partners assumed coverage on shares of RenovoRx in a research report on Friday, February 2nd. They set a “buy” rating and a $4.00 price objective for the company.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in RenovoRx stock. Nixon Peabody Trust Co. purchased a new position in shares of RenovoRx, Inc. (NASDAQ:RNXT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned approximately 0.91% of RenovoRx at the end of the most recent quarter. 3.10% of the stock is owned by institutional investors.

RenovoRx Stock Performance

RenovoRx stock remained flat at $1.21 during midday trading on Thursday. 3,465 shares of the company’s stock traded hands, compared to its average volume of 58,076. The company has a fifty day simple moving average of $1.38 and a 200-day simple moving average of $1.20. RenovoRx has a twelve month low of $0.53 and a twelve month high of $3.29. The company has a market capitalization of $20.41 million, a P/E ratio of -1.20 and a beta of 1.04.

RenovoRx (NASDAQ:RNXT) last issued its quarterly earnings results on Monday, April 1st. The company reported ($0.17) earnings per share (EPS) for the quarter.

About RenovoRx

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for the treatment of solid tumors. Its lead product candidate is RenovoGem, a drug and device combination consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.