RenovoRx, Inc. (NASDAQ:RNXT) Insider Ramtin Agah Acquires 26,000 Shares

RenovoRx, Inc. (NASDAQ:RNXT) insider Ramtin Agah acquired 26,000 shares of RenovoRx stock in a transaction that occurred on Tuesday, April 8th. The stock was purchased at an average price of $0.84 per share, with a total value of $21,840.00. Following the transaction, the insider now owns 1,048,460 shares of the company’s stock, valued at $880,706.40. This trade represents a 2.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

RenovoRx Stock Down 2.4 %

NASDAQ:RNXT opened at $0.77 on Friday. The firm’s fifty day simple moving average is $1.00 and its 200-day simple moving average is $1.13. The stock has a market cap of $18.53 million, a PE ratio of -1.35 and a beta of 1.12. RenovoRx, Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $1.69.

RenovoRx (NASDAQ:RNXT) last issued its earnings results on Monday, March 31st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.17 million. Equities analysts anticipate that RenovoRx, Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of RenovoRx in a research note on Friday, April 4th.

Institutional Investors Weigh In On RenovoRx

Institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in RenovoRx during the fourth quarter worth $49,000. Renaissance Technologies LLC acquired a new position in shares of RenovoRx during the 4th quarter worth $84,000. Finally, Geode Capital Management LLC boosted its position in shares of RenovoRx by 61.9% in the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after buying an additional 89,018 shares in the last quarter. 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.