Renovacor (NYSE:RCOR) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Renovacor (NYSE:RCOR – Get Rating) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Renovacor Inc. is an early?stage biotechnology company developing adeno-associated virus based gene therapies for devastating cardiovascular and central nervous system diseases resulting from BAG3 gene variants. Renovacor Inc., formerly known as Chardan Healthcare Acquisition 2 Corp., is based in NEW YORK. “

Separately, Chardan Capital reaffirmed a buy rating and issued a $20.00 price target on shares of Renovacor in a research note on Friday, May 13th.

Shares of NYSE:RCOR opened at $1.96 on Thursday. The company has a 50 day moving average of $3.68 and a 200-day moving average of $6.07. Renovacor has a one year low of $1.95 and a one year high of $10.74.

Renovacor (NYSE:RCOR – Get Rating) last released its earnings results on Thursday, May 12th. The company reported ($0.51) EPS for the quarter. As a group, equities research analysts forecast that Renovacor will post -1.31 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 683 Capital Management LLC acquired a new position in Renovacor in the 3rd quarter worth $1,584,000. Cowen AND Company LLC bought a new position in shares of Renovacor during the third quarter worth about $91,000. Morgan Stanley acquired a new stake in Renovacor in the 3rd quarter valued at approximately $463,000. Northern Trust Corp bought a new stake in Renovacor in the 4th quarter valued at approximately $130,000. Finally, State Street Corp acquired a new position in Renovacor during the 1st quarter worth approximately $50,000. 48.17% of the stock is owned by institutional investors and hedge funds.

Renovacor Company Profile (Get Rating)

Renovacor, Inc, a biotechnology company, focuses on delivering various precision therapies to enhance the lives of patients and families battling genetically-driven cardiovascular and mechanistically-related diseases. It primarily focuses on the treatment of BCL2-associated athanogene 3 (BAG3) mutation-associated dilated cardiomyopathy (DCM).

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