RenovoRx’s (RNXT) “Buy” Rating Reiterated at HC Wainwright

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

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

RenovoRx Stock Down 3.1 %

Shares of RenovoRx stock opened at $0.88 on Friday. The firm’s 50 day moving average price is $1.07 and its 200-day moving average price is $1.15. The company has a market cap of $21.15 million, a P/E ratio of -1.55 and a beta of 1.12. RenovoRx has a 52-week low of $0.77 and a 52-week high of $1.69.

RenovoRx (NASDAQ:RNXT) last announced its earnings results on Monday, March 31st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.17 million. As a group, equities research analysts forecast that RenovoRx will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On RenovoRx

A number of hedge funds have recently made changes to their positions in RNXT. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 89,018 shares in the last quarter. Renaissance Technologies LLC acquired a new position in RenovoRx during the fourth quarter worth $84,000. Finally, Citadel Advisors LLC purchased a new stake in RenovoRx in the 4th quarter valued at $49,000. 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.