Ascendiant Capital Markets Comments on RenovoRx Q1 Earnings

RenovoRx, Inc. (NASDAQ:RNXT) – Equities research analysts at Ascendiant Capital Markets issued their Q1 2027 earnings per share (EPS) estimates for shares of RenovoRx in a research report issued on Wednesday, April 8th. Ascendiant Capital Markets analyst E. Woo forecasts that the company will post earnings per share of ($0.06) for the quarter. Ascendiant Capital Markets has a “Buy” rating and a $13.50 price target on the stock. The consensus estimate for RenovoRx’s current full-year earnings is ($0.40) per share. Ascendiant Capital Markets also issued estimates for RenovoRx’s Q2 2027 earnings at ($0.06) EPS, Q3 2027 earnings at ($0.06) EPS and Q4 2027 earnings at ($0.05) EPS.

Several other research firms have also weighed in on RNXT. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of RenovoRx in a research report on Wednesday, April 8th. Wall Street Zen lowered RenovoRx from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. Finally, JonesTrading raised RenovoRx to a “strong-buy” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.25.

RenovoRx Stock Performance

Shares of RenovoRx stock opened at $1.02 on Tuesday. The business’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $0.99. RenovoRx has a 52-week low of $0.70 and a 52-week high of $1.45. The firm has a market cap of $45.95 million, a PE ratio of -3.19 and a beta of 1.22.

RenovoRx (NASDAQ:RNXT) last announced its earnings results on Monday, March 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). RenovoRx had a negative return on equity of 119.77% and a negative net margin of 994.48%.The business had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.42 million. During the same quarter last year, the firm earned ($0.40) EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AIGH Capital Management LLC boosted its stake in shares of RenovoRx by 8.4% during the 4th quarter. AIGH Capital Management LLC now owns 2,833,894 shares of the company’s stock worth $2,380,000 after acquiring an additional 218,701 shares during the period. Bleichroeder LP boosted its stake in shares of RenovoRx by 11.4% during the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock worth $504,000 after acquiring an additional 61,379 shares during the period. Geode Capital Management LLC boosted its stake in shares of RenovoRx by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock worth $467,000 after acquiring an additional 31,730 shares during the period. Wealthspire Advisors LLC bought a new position in shares of RenovoRx during the 4th quarter worth approximately $212,000. Finally, Citadel Advisors LLC bought a new position in shares of RenovoRx during the 3rd quarter worth approximately $154,000. 3.10% of the stock is currently owned by institutional investors.

About RenovoRx

RenovoRx, Inc is a clinical-stage medical technology company focused on the development of proprietary drug-device combination therapies for the treatment of solid tumor malignancies. The company’s lead product candidate, RenovoCath™, is an intra-arterial catheter system designed to deliver high concentrations of chemotherapeutic agents directly to tumor sites while minimizing systemic exposure. RenovoRx seeks to improve clinical outcomes and reduce adverse effects by enhancing drug delivery precision in hard-to-treat cancers.

RenovoCath™ is being evaluated in multiple clinical trials targeting advanced pancreatic cancer and metastatic colorectal cancer, among other solid tumors.