Laurence Marton Purchases 12,050 Shares of RenovoRx, Inc. (NASDAQ:RNXT) Stock

RenovoRx, Inc. (NASDAQ:RNXT) Director Laurence Marton acquired 12,050 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The shares were purchased at an average price of $0.85 per share, with a total value of $10,242.50. Following the completion of the transaction, the director now owns 45,684 shares of the company’s stock, valued at $38,831.40. The trade was a 35.83 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

RenovoRx Price Performance

Shares of RNXT stock opened at $0.83 on Thursday. The company has a 50-day moving average of $1.02 and a two-hundred day moving average of $1.14. RenovoRx, Inc. has a 1-year low of $0.75 and a 1-year high of $1.69. The firm has a market cap of $19.92 million, a PE ratio of -1.46 and a beta of 1.12.

RenovoRx (NASDAQ:RNXT) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.17 million. Sell-side analysts anticipate that RenovoRx, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new position in shares of RenovoRx in the fourth quarter valued at approximately $49,000. Renaissance Technologies LLC purchased a new position in RenovoRx in the fourth quarter worth approximately $84,000. Finally, Geode Capital Management LLC lifted its stake in RenovoRx by 61.9% in the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after acquiring an additional 89,018 shares during the last quarter. Hedge funds and other institutional investors own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of RenovoRx in a research report on Friday, April 4th.

About RenovoRx

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary targeted combination therapies to improve therapeutic outcomes for cancer patients undergoing treatment. Its lead product candidate is RenovoGem, an oncology drug-device combination product, consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.