RenovoRx (NASDAQ:RNXT) Posts Quarterly Earnings Results, Hits Expectations

RenovoRx (NASDAQ:RNXT) announced its earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08), FiscalAI reports. The firm had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $0.47 million. RenovoRx had a negative return on equity of 119.77% and a negative net margin of 994.48%.

Here are the key takeaways from RenovoRx’s conference call:

• RenovoRx reported record Q1 2026 revenue of $563,000, up 136% sequentially from Q4 2025 and more than half of full-year 2025 revenue, signaling that its commercial model is starting to scale.
• The company said it now has 16 active commercial cancer centers as of May 2026, up from 8 at year-end 2025, with 32 more centers in the pipeline and a target of 36 centers by year-end.
• Management reiterated full-year 2026 revenue guidance of $3 million to $4 million and said second-quarter revenue is tracking above Q1, which they believe keeps them on plan.
• The TIGeR-PaC Phase III trial is nearing enrollment completion, with 106 of 114 patients randomized and enrollment expected to close in early June, while final data remains expected in mid-to-late 2027.
• RenovoRx completed an oversubscribed $10 million private placement and ended Q1 with $12.4 million in cash, giving it runway into the second half of 2027 as it works toward cash flow breakeven.

RenovoRx Trading Up 0.8%

Shares of RenovoRx stock traded up $0.01 during trading hours on Thursday, hitting $0.86. 170,100 shares of the company were exchanged, compared to its average volume of 277,991. The business has a 50-day moving average of $0.94 and a 200-day moving average of $0.94. RenovoRx has a 1 year low of $0.70 and a 1 year high of $1.45. The stock has a market capitalization of $38.52 million, a price-to-earnings ratio of -2.67 and a beta of 1.00.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RNXT shares. Ascendiant Capital Markets boosted their price objective on RenovoRx from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Thursday, April 9th. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of RenovoRx in a research report on Wednesday, April 8th. JonesTrading raised shares of RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Wall Street Zen downgraded shares of RenovoRx from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Hedge Funds Weigh In On RenovoRx

Several institutional investors have recently bought and sold shares of RNXT. Geode Capital Management LLC raised its position in RenovoRx by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock worth $467,000 after buying an additional 31,730 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of RenovoRx in the 2nd quarter worth $98,000. Citadel Advisors LLC purchased a new stake in shares of RenovoRx in the third quarter valued at about $154,000. Wealthspire Advisors LLC purchased a new stake in shares of RenovoRx in the fourth quarter valued at about $212,000. Finally, Bleichroeder LP increased its stake in shares of RenovoRx by 11.4% during the fourth quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock worth $504,000 after acquiring an additional 61,379 shares during the period. 3.10% of the stock is owned by institutional investors and hedge funds.

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.