RenovoRx, Inc. (NASDAQ:RNXT) Sees Large Increase in Short Interest

RenovoRx, Inc. (NASDAQ:RNXT) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 263,200 shares, an increase of 39.1% from the March 15th total of 189,200 shares. Based on an average daily volume of 137,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.7% of the company’s shares are sold short.

Institutional Investors Weigh In On RenovoRx

A number of institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new position in shares of RenovoRx in the 4th quarter valued at about $49,000. Renaissance Technologies LLC acquired a new stake in RenovoRx during the 4th quarter worth approximately $84,000. Finally, Geode Capital Management LLC raised its holdings in RenovoRx by 61.9% in the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after buying an additional 89,018 shares during the period. Hedge funds and other institutional investors own 3.10% of the company’s stock.

RenovoRx Stock Down 1.0 %

Shares of RNXT stock traded down $0.01 during trading hours on Friday, hitting $1.02. 109,213 shares of the company were exchanged, compared to its average volume of 72,792. The firm has a fifty day moving average of $0.97 and a 200 day moving average of $1.13. RenovoRx has a 1 year low of $0.75 and a 1 year high of $1.69. The firm has a market cap of $37.28 million, a PE ratio of -1.79 and a beta of 1.12.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.17 million. Analysts expect that RenovoRx will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of RenovoRx in a research report on Friday, April 4th.

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.