RenovoRx (NASDAQ:RNXT) Insider Buys $10,200.00 in Stock

RenovoRx, Inc. (NASDAQ:RNXT) insider Ramtin Agah bought 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of $0.85 per share, for a total transaction of $10,200.00. Following the completion of the purchase, the insider owned 778,460 shares of the company’s stock, valued at $661,691. This trade represents a 1.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ramtin Agah also recently made the following trade(s):

• On Friday, December 5th, Ramtin Agah purchased 10,000 shares of RenovoRx stock. The shares were purchased at an average cost of $0.96 per share, with a total value of $9,600.00.
• On Monday, November 24th, Ramtin Agah purchased 12,000 shares of RenovoRx stock. The stock was purchased at an average cost of $0.80 per share, for a total transaction of $9,600.00.
• On Friday, November 21st, Ramtin Agah acquired 10,000 shares of RenovoRx stock. The stock was purchased at an average price of $0.80 per share, for a total transaction of $8,000.00.

RenovoRx Trading Down 10.4%

RenovoRx stock opened at $0.84 on Wednesday. The firm has a market cap of $30.88 million, a P/E ratio of -2.34 and a beta of 1.30. RenovoRx, Inc. has a 1-year low of $0.70 and a 1-year high of $1.69. The firm has a 50-day moving average of $0.99 and a 200-day moving average of $1.15.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.41 million. RenovoRx had a negative return on equity of 122.19% and a negative net margin of 1,196.66%. Research analysts forecast that RenovoRx, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Corsair Capital Management L.P. purchased a new stake in RenovoRx in the first quarter worth about $186,000. Alyeska Investment Group L.P. purchased a new stake in shares of RenovoRx in the 1st quarter worth approximately $682,000. HighTower Advisors LLC purchased a new stake in shares of RenovoRx in the 1st quarter worth approximately $40,000. ADAR1 Capital Management LLC increased its position in RenovoRx by 143.3% during the 1st quarter. ADAR1 Capital Management LLC now owns 479,883 shares of the company’s stock valued at $475,000 after buying an additional 282,633 shares in the last quarter. Finally, AWM Investment Company Inc. purchased a new position in RenovoRx during the first quarter valued at $2,262,000. 3.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of RenovoRx in a research report on Monday. Ascendiant Capital Markets boosted their price target on shares of RenovoRx from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, November 21st. Finally, Wall Street Zen downgraded shares of RenovoRx from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, RenovoRx has an average rating of “Hold” and a consensus price target of $7.75.

RenovoRx Company Profile

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary targeted combination therapies to improve therapeutic outcomes for cancer patients undergoing treatment. Its lead product candidate is RenovoGem, an oncology drug-device combination product, consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.