RenovoRx, Inc. (NASDAQ:RNXT) Sees Significant Increase in Short Interest

RenovoRx, Inc. (NASDAQ:RNXT) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 15,600 shares, an increase of 129.4% from the February 29th total of 6,800 shares. Based on an average daily volume of 82,800 shares, the short-interest ratio is presently 0.2 days. Currently, 0.2% of the company’s shares are short sold.

RenovoRx Trading Down 2.9 %

RenovoRx stock traded down $0.04 during midday trading on Thursday, reaching $1.34. The stock had a trading volume of 17,338 shares, compared to its average volume of 55,840. The company has a fifty day moving average price of $1.45 and a two-hundred day moving average price of $1.22. The company has a market capitalization of $14.32 million, a P/E ratio of -1.43 and a beta of 1.12. RenovoRx has a 12 month low of $0.53 and a 12 month high of $4.60.

Analysts Set New Price Targets

Separately, Alliance Global Partners began coverage on 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

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in shares of RenovoRx during the first quarter valued at approximately $32,000. Bank of America Corp DE purchased a new stake in RenovoRx during the first quarter worth about $44,000. Colony Group LLC purchased a new position in RenovoRx in the third quarter valued at approximately $32,000. Geode Capital Management LLC lifted its position in shares of RenovoRx by 16.6% during the 1st quarter. Geode Capital Management LLC now owns 42,100 shares of the company’s stock valued at $147,000 after buying an additional 5,993 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in RenovoRx during the third quarter worth about $62,000. 3.10% of the stock is owned by institutional investors.

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.