RenovoRx (NASDAQ:RNXT) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of RenovoRx (NASDAQ:RNXT) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised shares of RenovoRx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

RenovoRx Price Performance

RenovoRx stock opened at $1.29 on Friday. The stock has a market capitalization of $58.22 million, a P/E ratio of -4.16 and a beta of 0.98. RenovoRx has a 12-month low of $0.70 and a 12-month high of $2.59. The firm’s 50-day moving average is $1.57 and its two-hundred day moving average is $1.16.

RenovoRx (NASDAQ:RNXT) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $0.91 million during the quarter, compared to analyst estimates of $0.70 million. RenovoRx had a negative net margin of 621.71% and a negative return on equity of 135.11%. As a group, analysts forecast that RenovoRx will post -0.24 EPS for the current year.

Institutional Trading of RenovoRx

A hedge fund recently raised its position in RenovoRx stock. AIGH Capital Management LLC grew its stake in shares of RenovoRx, Inc. (NASDAQ:RNXT) by 30.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,706,197 shares of the company’s stock after purchasing an additional 872,303 shares during the quarter. RenovoRx accounts for 0.5% of AIGH Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. AIGH Capital Management LLC owned 8.23% of RenovoRx worth $3,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 3.10% of the stock is owned by hedge funds and other institutional investors.

RenovoRx Company Profile

RenovoRx, Inc is a clinical-stage biopharmaceutical company developing localized treatments for solid tumors. The company’s technology is designed to deliver therapeutic agents directly to tumors through the arterial blood supply, with the goal of increasing drug exposure at the treatment site while limiting systemic exposure and associated side effects.

RenovoRx’s proprietary Trans-Arterial Micro-Perfusion (TAMP) platform combines an investigational drug formulation with a specialized delivery system.