Renalytix AI (NASDAQ:RNLX) Sees Strong Trading Volume

Renalytix AI plc (NASDAQ:RNLX) shares saw unusually-strong trading volume on Thursday . Approximately 5,540 shares traded hands during trading, a decline of 93% from the previous session’s volume of 76,587 shares.The stock last traded at $30.50 and had previously closed at $30.07.

A number of research firms recently commented on RNLX. Berenberg Bank initiated coverage on Renalytix AI in a report on Friday, July 2nd. They set a “buy” rating and a $38.00 price target for the company. Zacks Investment Research upgraded shares of Renalytix AI from a “sell” rating to a “hold” rating in a research note on Saturday, June 19th. Finally, Investec raised shares of Renalytix AI from a “hold” rating to a “buy” rating in a report on Thursday, April 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $30.00.

The company’s 50 day moving average is $30.76.

Renalytix AI (NASDAQ:RNLX) last released its earnings results on Tuesday, June 15th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $0.61 million. On average, equities analysts anticipate that Renalytix AI plc will post -0.59 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Baldwin Brothers Inc. MA bought a new position in Renalytix AI in the first quarter valued at approximately $26,000. Valeo Financial Advisors LLC acquired a new stake in shares of Renalytix AI in the 1st quarter valued at $46,000. UBS Group AG raised its holdings in shares of Renalytix AI by 203.5% during the 1st quarter. UBS Group AG now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 1,341 shares in the last quarter. Retirement Group LLC bought a new stake in shares of Renalytix AI during the 1st quarter worth $39,000. Finally, JPMorgan Chase & Co. acquired a new stake in Renalytix AI in the first quarter valued at about $196,000. 16.48% of the stock is owned by institutional investors.

Renalytix AI Company Profile (NASDAQ:RNLX)

Renalytix AI plc develops artificial intelligence-enabled in vitro diagnostic solutions for kidney diseases. The company offers KidneyIntelX, a diagnostic platform that employs an artificial intelligence-enabled algorithm that combines various data inputs, including validated blood-based biomarkers, inherited genetics and personalized patient data from electronic health record, and systems to generate a unique patient risk score.

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