RenovoRx (NASDAQ:RNXT) Given Sell (E+) Rating at Weiss Ratings

RenovoRx (NASDAQ:RNXT)‘s stock had its “sell (e+)” rating restated by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research firms have also issued reports on RNXT. Wall Street Zen upgraded RenovoRx from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Ascendiant Capital Markets boosted their price objective on RenovoRx from $11.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, RenovoRx currently has a consensus rating of “Hold” and a consensus target price of $7.50.

RenovoRx Price Performance

NASDAQ:RNXT opened at $1.21 on Wednesday. RenovoRx has a 12-month low of $0.75 and a 12-month high of $1.69. The firm has a market capitalization of $44.34 million, a P/E ratio of -3.18 and a beta of 1.30. The business has a 50 day simple moving average of $1.15 and a 200 day simple moving average of $1.16.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $0.42 million for the quarter, compared to analyst estimates of $0.25 million. Research analysts anticipate that RenovoRx will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new position in RenovoRx during the 1st quarter worth $40,000. Citadel Advisors LLC acquired a new stake in shares of RenovoRx in the fourth quarter valued at $49,000. Chicago Partners Investment Group LLC acquired a new stake in shares of RenovoRx in the first quarter valued at $97,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of RenovoRx in the second quarter valued at $98,000. Finally, Corsair Capital Management L.P. acquired a new stake in shares of RenovoRx in the first quarter valued at $186,000. Institutional investors and hedge funds own 3.10% of the company’s stock.

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.