RenovoRx (NASDAQ:RNXT) Given New $13.50 Price Target at Ascendiant Capital Markets

RenovoRx (NASDAQ:RNXT) had its target price hoisted by research analysts at Ascendiant Capital Markets from $13.00 to $13.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

RNXT has been the subject of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. Wall Street Zen cut RenovoRx from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 4th. JonesTrading upgraded RenovoRx to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of RenovoRx in a research note on Wednesday. One 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, RenovoRx currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

RenovoRx Stock Performance

RNXT opened at $0.94 on Thursday. The stock has a market capitalization of $42.30 million, a PE ratio of -2.93 and a beta of 1.22. The stock’s 50 day moving average price is $0.95 and its 200-day moving average price is $0.99. RenovoRx has a 52-week low of $0.70 and a 52-week high of $1.45.

RenovoRx (NASDAQ:RNXT) last released its earnings results on Monday, March 30th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.42 million. RenovoRx had a negative return on equity of 105.11% and a negative net margin of 994.48%.During the same quarter last year, the business posted ($0.40) EPS. Research analysts forecast that RenovoRx will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bleichroeder LP raised its stake in RenovoRx by 11.4% during the fourth quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after buying an additional 61,379 shares during the last quarter. Wealthspire Advisors LLC purchased a new position in RenovoRx during the fourth quarter valued at $212,000. Citadel Advisors LLC purchased a new position in RenovoRx during the third quarter valued at $154,000. Northwestern Mutual Wealth Management Co. purchased a new position in RenovoRx during the second quarter valued at $98,000. Finally, Geode Capital Management LLC raised its stake in RenovoRx by 9.9% during the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after buying an additional 31,730 shares during the last quarter. Hedge funds and other institutional investors own 3.10% of the company’s stock.

About RenovoRx

RenovoRx, Inc is a clinical-stage medical technology company focused on the development of proprietary drug-device combination therapies for the treatment of solid tumor malignancies. The company’s lead product candidate, RenovoCath™, is an intra-arterial catheter system designed to deliver high concentrations of chemotherapeutic agents directly to tumor sites while minimizing systemic exposure. RenovoRx seeks to improve clinical outcomes and reduce adverse effects by enhancing drug delivery precision in hard-to-treat cancers.

RenovoCath™ is being evaluated in multiple clinical trials targeting advanced pancreatic cancer and metastatic colorectal cancer, among other solid tumors.