RenovoRx (NASDAQ:RNXT) Stock Gets Downgrade from Wall Street Zen

RenovoRx (NASDAQ:RNXT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised RenovoRx from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.50.

RenovoRx Stock Performance

Shares of RNXT stock opened at $1.29 on Friday. RenovoRx has a 12-month low of $0.70 and a 12-month high of $2.59. The stock’s 50-day moving average price is $1.57 and its 200-day moving average price is $1.16. The stock has a market capitalization of $58.22 million, a price-to-earnings ratio of -4.16 and a beta of 0.98.

RenovoRx (NASDAQ:RNXT) last posted its earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. RenovoRx had a negative return on equity of 135.11% and a negative net margin of 621.71%. The company had revenue of $0.91 million for the quarter, compared to the consensus estimate of $0.70 million. As a group, research analysts predict that RenovoRx will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On RenovoRx

A hedge fund recently bought a new position in RenovoRx stock. T3 Companies LLC acquired a new position in RenovoRx, Inc. (NASDAQ:RNXT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 96,800 shares of the company’s stock, valued at approximately $151,000. T3 Companies LLC owned approximately 0.21% of RenovoRx as of its most recent SEC filing. 3.10% of the stock is currently owned by institutional investors.

RenovoRx Company Profile

RenovoRx, Inc is a clinical-stage biopharmaceutical company developing targeted treatments for solid tumors. The company’s approach is based on its Trans-Arterial Micro-Perfusion (TAMP) platform, which is designed to deliver chemotherapy directly into tumor tissue through the arterial system while limiting exposure to surrounding healthy tissue.

RenovoRx’s lead investigational product, RenovoCath, is a localized drug-delivery system intended to support the administration of anticancer therapies to tumors.