Mark Voll Acquires 25,000 Shares of RenovoRx (NASDAQ:RNXT) Stock

RenovoRx, Inc. (NASDAQ:RNXT) CFO Mark Voll acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $0.79 per share, with a total value of $19,750.00. Following the completion of the acquisition, the chief financial officer owned 142,380 shares of the company’s stock, valued at $112,480.20. This represents a 21.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

RenovoRx Trading Up 0.5%

RNXT opened at $0.81 on Thursday. The stock has a fifty day moving average price of $0.94 and a 200 day moving average price of $0.94. RenovoRx, Inc. has a 1 year low of $0.70 and a 1 year high of $1.45. The stock has a market cap of $36.54 million, a price-to-earnings ratio of -2.45 and a beta of 1.00.

RenovoRx (NASDAQ:RNXT) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $0.56 million during the quarter, compared to the consensus estimate of $0.47 million. RenovoRx had a negative return on equity of 135.03% and a negative net margin of 823.98%. As a group, sell-side analysts forecast that RenovoRx, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

RNXT has been the topic of several recent research reports. Ascendiant Capital Markets raised their price objective on shares of RenovoRx from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday, April 9th. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of RenovoRx in a research report on Wednesday, April 8th. Wall Street Zen lowered shares of RenovoRx from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 4th. Finally, JonesTrading upgraded shares of RenovoRx to a “strong-buy” rating in a 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, RenovoRx has an average rating of “Moderate Buy” and a consensus target price of $8.25.

Hedge Funds Weigh In On RenovoRx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd raised its position in shares of RenovoRx by 58.6% in the fourth quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock valued at $42,000 after purchasing an additional 18,525 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of RenovoRx in the second quarter worth $98,000. Citadel Advisors LLC bought a new stake in shares of RenovoRx during the 3rd quarter worth $154,000. Wealthspire Advisors LLC acquired a new position in RenovoRx in the 4th quarter valued at $212,000. Finally, Geode Capital Management LLC grew its stake in RenovoRx by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after buying an additional 31,730 shares during the last quarter. Institutional investors and hedge funds own 3.10% of the company’s stock.

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.