RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Update

RenovoRx, Inc. (NASDAQ:RNXT) was the target of a significant decrease in short interest in the month of 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. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 168,801 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 168,801 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On RenovoRx

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd lifted its stake in shares of RenovoRx by 58.6% during the 4th quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock worth $42,000 after acquiring an additional 18,525 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of RenovoRx during the second quarter worth $98,000. Citadel Advisors LLC purchased a new stake in shares of RenovoRx during the third quarter valued at $154,000. Wealthspire Advisors LLC bought a new position in shares of RenovoRx in the fourth quarter worth about $212,000. Finally, Geode Capital Management LLC increased its stake in RenovoRx by 9.9% in 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 during the period. 3.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RNXT has been the subject of several recent analyst reports. Ascendiant Capital Markets upped their target price on shares of RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Wall Street Zen raised RenovoRx from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. JonesTrading raised shares of RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.00.

RenovoRx Stock Performance

Shares of RNXT traded up $0.02 during mid-day trading on Wednesday, hitting $0.85. 159,667 shares of the stock were exchanged, compared to its average volume of 262,307. The company has a market cap of $31.19 million, a PE ratio of -2.36 and a beta of 1.34. RenovoRx has a 52-week low of $0.70 and a 52-week high of $1.45. The firm has a 50-day moving average of $0.96 and a two-hundred day moving average of $1.02.

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.