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

HC Wainwright reissued their buy rating on shares of RenovoRx (NASDAQ:RNXT) in a research report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $3.00 price target on the stock.

A number of other analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. Ascendiant Capital Markets lifted their price target on shares of RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. JonesTrading upgraded shares of RenovoRx to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen lowered shares of RenovoRx from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, RenovoRx presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

RenovoRx Stock Up 4.3%

RNXT opened at $0.94 on Wednesday. The firm has a market capitalization of $42.30 million, a P/E ratio of -2.93 and a beta of 1.22. The firm’s 50 day moving average is $0.95 and its 200-day moving average is $0.99. RenovoRx has a 52-week low of $0.70 and a 52-week high of $1.45.

RenovoRx (NASDAQ:RNXT) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.42 million. RenovoRx had a negative net margin of 994.48% and a negative return on equity of 105.11%. During the same quarter last year, the firm posted ($0.40) earnings per share. Equities analysts expect that RenovoRx will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of RenovoRx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings 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 period. Northwestern Mutual Wealth Management Co. acquired a new position in RenovoRx in the second quarter worth $98,000. Citadel Advisors LLC acquired a new position in RenovoRx in the third quarter worth $154,000. AIGH Capital Management LLC boosted 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 worth $2,380,000 after purchasing an additional 218,701 shares during the period. Finally, Wealthspire Advisors LLC acquired a new position in RenovoRx in the fourth quarter worth $212,000. 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.