RenovoRx (NASDAQ:RNXT) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of RenovoRx (NASDAQ:RNXT) in a research note published on Friday,Benzinga reports. HC Wainwright currently has a $3.00 price objective on the stock.

Separately, Ascendiant Capital Markets lifted their price objective on RenovoRx from $8.25 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th.

RenovoRx Price Performance

NASDAQ:RNXT opened at $0.88 on Friday. RenovoRx has a one year low of $0.77 and a one year high of $1.69. The company has a fifty day moving average price of $1.07 and a 200 day moving average price of $1.14. The stock has a market cap of $21.15 million, a P/E ratio of -1.55 and a beta of 1.15.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.17 million. As a group, equities research analysts anticipate that RenovoRx will post -0.4 EPS for the current year.

Hedge Funds Weigh In On RenovoRx

A number of hedge funds have recently made changes to their positions in RNXT. Citadel Advisors LLC bought a new stake in RenovoRx in the fourth quarter valued at about $49,000. Renaissance Technologies LLC bought a new stake in shares of RenovoRx in the 4th quarter valued at approximately $84,000. Finally, Geode Capital Management LLC raised its holdings 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.

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.