RenovoRx (NASDAQ:RNXT) Given New $13.50 Price Target at Ascendiant Capital Markets

RenovoRx (NASDAQ:RNXT) had its target price boosted by equities researchers at Ascendiant Capital Markets from $13.00 to $13.50 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Other analysts have also issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of RenovoRx in a report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a report on Monday, December 29th. Wall Street Zen lowered RenovoRx from a “hold” rating to a “strong sell” rating in a report on Saturday, April 4th. Finally, JonesTrading raised RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

RenovoRx Price Performance

RNXT stock opened at $0.94 on Thursday. RenovoRx has a 1-year low of $0.70 and a 1-year high of $1.45. The business has a fifty day moving average price of $0.95 and a 200-day moving average price of $0.99. The stock has a market capitalization of $42.30 million, a P/E ratio of -2.93 and a beta of 1.22.

RenovoRx (NASDAQ:RNXT) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). RenovoRx had a negative return on equity of 105.11% and a negative net margin of 994.48%.The firm had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.42 million. During the same quarter in the previous year, the business earned ($0.40) earnings per share. As a group, analysts anticipate that RenovoRx will post -0.4 earnings per share for the current year.

Institutional Trading of RenovoRx

Hedge funds have recently bought and sold shares of the stock. Bleichroeder LP grew its holdings in RenovoRx by 11.4% during the fourth quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after purchasing an additional 61,379 shares during the period. Wealthspire Advisors LLC bought a new stake in RenovoRx during the fourth quarter valued at about $212,000. Citadel Advisors LLC bought a new stake in RenovoRx during the third quarter valued at about $154,000. Northwestern Mutual Wealth Management Co. bought a new stake in RenovoRx during the second quarter valued at about $98,000. Finally, Geode Capital Management LLC grew its holdings in RenovoRx by 9.9% during the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after purchasing an additional 31,730 shares during the period. Institutional investors own 3.10% of the company’s stock.

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.