RenovoRx (NASDAQ:RNXT) Given “Buy” Rating at HC Wainwright

RenovoRx (NASDAQ:RNXT)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 154.24% from the stock’s current price.

Separately, Ascendiant Capital Markets lifted their price objective on RenovoRx from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, April 28th.

RenovoRx Price Performance

Shares of NASDAQ RNXT opened at $1.18 on Monday. RenovoRx has a 1 year low of $0.75 and a 1 year high of $1.69. The firm has a 50-day moving average of $0.97 and a 200 day moving average of $1.13. The stock has a market cap of $43.13 million, a P/E ratio of -2.07 and a beta of 1.12.

RenovoRx (NASDAQ:RNXT) last released its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.23 million. Research analysts expect that RenovoRx will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of RenovoRx

A number of institutional investors and hedge funds have recently bought and sold shares of RNXT. Citadel Advisors LLC purchased a new stake in shares of RenovoRx during the fourth quarter valued at approximately $49,000. HighTower Advisors LLC bought a new position in RenovoRx in the 1st quarter valued at approximately $40,000. Renaissance Technologies LLC purchased a new stake in RenovoRx during the 4th quarter valued at $84,000. Chicago Partners Investment Group LLC purchased a new position in shares of RenovoRx in the first quarter worth $97,000. Finally, Corsair Capital Management L.P. bought a new position in shares of RenovoRx during the first quarter valued at $186,000. 3.10% of the stock is currently owned by institutional investors.

RenovoRx Company Profile

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.