RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Update

RenovoRx, Inc. (NASDAQ:RNXT) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 541,448 shares, a growth of 28.9% from the December 31st total of 419,908 shares. Based on an average daily volume of 473,407 shares, the short-interest ratio is currently 1.1 days. Approximately 1.6% of the company’s shares are short sold. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 473,407 shares, the short-interest ratio is currently 1.1 days.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Ascendiant Capital Markets upped their price target on RenovoRx from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, November 21st. Jones Trading raised shares of RenovoRx to a “strong-buy” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded RenovoRx from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. 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 stock. According to MarketBeat, RenovoRx has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Institutional Trading of RenovoRx

A number of hedge funds have recently bought and sold shares of RNXT. Northwestern Mutual Wealth Management Co. acquired a new position in RenovoRx during the second quarter worth $98,000. Citadel Advisors LLC bought a new stake in RenovoRx during the 3rd quarter valued at approximately $154,000. Geode Capital Management LLC grew its holdings in RenovoRx by 9.9% in the 2nd 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. Finally, AIGH Capital Management LLC increased its position in RenovoRx by 8.4% in the 4th quarter. AIGH Capital Management LLC now owns 2,833,894 shares of the company’s stock worth $2,380,000 after buying an additional 218,701 shares during the period. 3.10% of the stock is owned by hedge funds and other institutional investors.

RenovoRx Trading Down 2.3%

Shares of RNXT traded down $0.02 during trading hours on Monday, hitting $1.02. The company had a trading volume of 222,056 shares, compared to its average volume of 346,161. The company has a market capitalization of $37.24 million, a PE ratio of -2.83 and a beta of 1.31. RenovoRx has a one year low of $0.70 and a one year high of $1.50. The company’s fifty day moving average price is $0.94 and its two-hundred day moving average price is $1.06.

RenovoRx (NASDAQ:RNXT) last announced its earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). RenovoRx had a negative net margin of 1,196.66% and a negative return on equity of 122.19%. The company had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.41 million. Analysts forecast that RenovoRx will post -0.4 earnings per share for the current year.

RenovoRx Company Profile

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.