RenovoRx (NASDAQ:RNXT) Stock Rating Lowered by Wall Street Zen

RenovoRx (NASDAQ:RNXT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

RNXT has been the topic of a number of other research reports. JonesTrading raised shares of RenovoRx to a “strong-buy” rating in a research report on Thursday, January 29th. Ascendiant Capital Markets raised their price target on shares of RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of RenovoRx in a report on Monday, December 29th. One 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

RenovoRx Price Performance

RNXT opened at $0.98 on Friday. The firm has a market capitalization of $44.15 million, a P/E ratio of -3.06 and a beta of 1.22. The stock’s 50 day moving average price is $0.95 and its two-hundred day moving average price is $1.00. RenovoRx has a 12-month low of $0.70 and a 12-month high of $1.45.

RenovoRx (NASDAQ:RNXT) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). RenovoRx had a negative return on equity of 105.11% and a negative net margin of 994.48%.The company had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.42 million. During the same period in the previous year, the company earned ($0.40) earnings per share. As a group, analysts anticipate that RenovoRx will post -0.4 earnings per share for the current year.

Institutional Trading of RenovoRx

A number of institutional investors and hedge funds have recently modified their holdings of RNXT. XTX Topco Ltd lifted its position in RenovoRx by 58.6% in the fourth quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock worth $42,000 after purchasing an additional 18,525 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in RenovoRx in the 2nd quarter valued at $98,000. Citadel Advisors LLC bought a new stake in RenovoRx in the 3rd quarter valued at $154,000. Wealthspire Advisors LLC acquired a new position in shares of RenovoRx in the 4th quarter valued at $212,000. Finally, Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. 3.10% of the stock is currently owned by institutional investors.

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.