RenovoRx (NASDAQ:RNXT) Receives “Buy” Rating from HC Wainwright

RenovoRx (NASDAQ:RNXT)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 218.47% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. Wall Street Zen cut RenovoRx from a “hold” rating to a “strong sell” rating in a research note on Saturday. JonesTrading upgraded shares of RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Ascendiant Capital Markets upped their price target on shares of RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. One equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

RenovoRx Trading Up 4.7%

NASDAQ RNXT traded up $0.04 on Wednesday, hitting $0.94. 92,278 shares of the company’s stock were exchanged, compared to its average volume of 341,582. The stock has a 50-day moving average of $0.95 and a 200-day moving average of $0.99. RenovoRx has a 52 week low of $0.70 and a 52 week high of $1.45. The stock has a market cap of $42.44 million, a price-to-earnings ratio of -2.93 and a beta of 1.22.

RenovoRx (NASDAQ:RNXT) last released its 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 period in the prior year, the company earned ($0.40) earnings per share. As a group, analysts predict that RenovoRx will post -0.4 earnings per share for the current year.

Institutional Trading of RenovoRx

A number of institutional investors and hedge funds have recently bought and sold shares of RNXT. Wealthspire Advisors LLC acquired a new stake in RenovoRx in the fourth quarter valued at $212,000. AIGH Capital Management LLC increased its holdings in RenovoRx by 8.4% in the fourth quarter. AIGH Capital Management LLC now owns 2,833,894 shares of the company’s stock valued at $2,380,000 after purchasing an additional 218,701 shares during the period. Citadel Advisors LLC acquired a new stake in RenovoRx in the third quarter valued at $154,000. Northwestern Mutual Wealth Management Co. acquired a new stake in RenovoRx in the second quarter valued at $98,000. Finally, Bleichroeder LP increased its holdings in 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 during the period. 3.10% of the stock is currently owned by institutional investors and hedge funds.

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.