RenovoRx (NASDAQ:RNXT) Trading Up 5.1%

RenovoRx, Inc. (NASDAQ:RNXT) shares were up 5.1% on Monday . The stock traded as high as $1.28 and last traded at $1.23. Approximately 4,335 shares traded hands during trading, a decline of 93% from the average daily volume of 60,210 shares. The stock had previously closed at $1.17.

Analysts Set New Price Targets

Separately, Alliance Global Partners assumed coverage on shares of RenovoRx in a research report on Friday, February 2nd. They issued a “buy” rating and a $4.00 target price for the company.

RenovoRx Price Performance

The company has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $1.20. The company has a market capitalization of $20.75 million, a P/E ratio of -1.22 and a beta of 1.04.

Institutional Investors Weigh In On RenovoRx

An institutional investor recently bought a new position in RenovoRx stock. Nixon Peabody Trust Co. acquired a new position in RenovoRx, Inc. (NASDAQ:RNXT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned about 0.91% of RenovoRx at the end of the most recent quarter. 3.10% of the stock is owned by hedge funds and other institutional investors.

RenovoRx Company Profile

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for the treatment of solid tumors. Its lead product candidate is RenovoGem, a drug and device combination consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.