HC Wainwright Reiterates Buy Rating for RenovoRx (NASDAQ:RNXT)

RenovoRx (NASDAQ:RNXT)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 145.90% from the stock’s current price.

Separately, Ascendiant Capital Markets raised their target price on shares of RenovoRx from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, April 28th.

RenovoRx Price Performance

Shares of NASDAQ RNXT opened at $1.22 on Monday. The firm has a market cap of $44.62 million, a price-to-earnings ratio of -2.14 and a beta of 1.12. The stock’s fifty day moving average price is $0.98 and its two-hundred day moving average price is $1.14. RenovoRx has a one year low of $0.75 and a one year high of $1.69.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.23 million. On average, equities analysts anticipate that RenovoRx will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC bought a new stake in RenovoRx during the first quarter worth about $40,000. Citadel Advisors LLC bought a new position in RenovoRx in the 4th quarter valued at about $49,000. Renaissance Technologies LLC acquired a new position in shares of RenovoRx in the 4th quarter valued at approximately $84,000. Chicago Partners Investment Group LLC bought a new stake in shares of RenovoRx during the 1st quarter worth approximately $97,000. Finally, Corsair Capital Management L.P. acquired a new stake in shares of RenovoRx during the 1st quarter worth approximately $186,000. Institutional investors own 3.10% of the company’s stock.

RenovoRx Company Profile

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.