RenovoRx (NASDAQ:RNXT) Price Target Raised to $13.00 at Ascendiant Capital Markets

RenovoRx (NASDAQ:RNXT) had its price target boosted by equities research analysts at Ascendiant Capital Markets from $12.50 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

A number of other equities research analysts have also issued reports on RNXT. Wall Street Zen upgraded RenovoRx from a “sell” rating to a “hold” rating in a research note on Saturday. Jones Trading upgraded RenovoRx to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of RenovoRx in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, RenovoRx has an average rating of “Moderate Buy” and an average target price of $8.00.

RenovoRx Price Performance

Shares of NASDAQ:RNXT opened at $0.93 on Tuesday. The company has a market capitalization of $34.21 million, a P/E ratio of -2.59 and a beta of 1.31. RenovoRx has a 1-year low of $0.70 and a 1-year high of $1.45. The firm’s 50 day simple moving average is $0.96 and its two-hundred day simple moving average is $1.04.

Institutional Investors Weigh In On RenovoRx

Hedge funds have recently made changes to their positions in the company. AIGH Capital Management LLC boosted its stake in RenovoRx by 8.4% during the fourth quarter. AIGH Capital Management LLC now owns 2,833,894 shares of the company’s stock valued at $2,380,000 after buying an additional 218,701 shares during the last quarter. Bleichroeder LP grew its holdings in shares of RenovoRx by 11.4% in 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 in the last quarter. Geode Capital Management LLC increased its position in RenovoRx by 9.9% in the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock worth $467,000 after purchasing an additional 31,730 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in RenovoRx during the fourth quarter valued at $212,000. Finally, Citadel Advisors LLC bought a new position in RenovoRx during the third quarter valued at $154,000. 3.10% of the stock is currently owned by hedge funds and other institutional investors.

RenovoRx Company Profile

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.