RenovoRx (NASDAQ:RNXT) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of RenovoRx (NASDAQ:RNXT) from a sell rating to a hold rating in a research note issued to investors on Sunday,Wall Street Zen reports.

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

RenovoRx Price Performance

NASDAQ RNXT opened at $1.33 on Friday. The company has a market capitalization of $60.02 million, a P/E ratio of -4.29 and a beta of 1.12. RenovoRx has a 12-month low of $0.70 and a 12-month high of $2.59. The firm has a 50-day moving average price of $1.56 and a two-hundred day moving average price of $1.10.

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

Institutional Trading of RenovoRx

An institutional investor recently raised its stake in RenovoRx stock. AIGH Capital Management LLC lifted its position in RenovoRx, Inc. (NASDAQ:RNXT) by 30.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,706,197 shares of the company’s stock after purchasing an additional 872,303 shares during the quarter. RenovoRx makes up 0.5% of AIGH Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. AIGH Capital Management LLC owned about 8.23% of RenovoRx worth $3,682,000 at the end of the most recent quarter. 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 targeted treatments for solid tumors. The company’s approach is based on its Trans-Arterial Micro-Perfusion (TAMP) platform, which is designed to deliver chemotherapy directly into tumor tissue through the arterial system while limiting exposure to surrounding healthy tissue.

RenovoRx’s lead investigational product, RenovoCath, is a localized drug-delivery system intended to support the administration of anticancer therapies to tumors.