RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Update

RenovoRx, Inc. (NASDAQ:RNXT) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 73,200 shares, a drop of 17.3% from the November 30th total of 88,500 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 58,900 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets increased their price target on shares of RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Institutional Trading of RenovoRx

A hedge fund recently raised its stake in RenovoRx stock. Geode Capital Management LLC lifted its holdings in RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 232,937 shares of the company’s stock after purchasing an additional 89,018 shares during the quarter. Geode Capital Management LLC owned 0.97% of RenovoRx worth $247,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.10% of the company’s stock.

RenovoRx Price Performance

RNXT stock traded down $0.08 during midday trading on Tuesday, reaching $1.31. 103,246 shares of the company’s stock traded hands, compared to its average volume of 50,730. RenovoRx has a fifty-two week low of $0.77 and a fifty-two week high of $2.12. The business has a 50-day moving average price of $1.18 and a two-hundred day moving average price of $1.14. The company has a market capitalization of $31.44 million, a P/E ratio of -2.30 and a beta of 1.11.

About RenovoRx

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.