RenovoRx (NASDAQ:RNXT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of RenovoRx (NASDAQ:RNXT) from a hold rating to a sell rating in a research note issued to investors on Monday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of RenovoRx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 2nd. One equities 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’s stock. According to data from MarketBeat, RenovoRx currently has an average rating of “Moderate Buy” and an average target price of $8.50.

RenovoRx Trading Up 4.4%

Shares of NASDAQ RNXT opened at $1.18 on Monday. RenovoRx has a one year low of $0.70 and a one year high of $2.59. The firm’s 50 day simple moving average is $1.53 and its two-hundred day simple moving average is $1.11.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). RenovoRx had a negative return on equity of 135.11% and a negative net margin of 621.71%. The business had revenue of $1.07 million during the quarter, compared to the consensus estimate of $1.06 million. On average, equities analysts anticipate that RenovoRx will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On RenovoRx

A hedge fund recently bought a new stake in RenovoRx stock. T3 Companies LLC bought a new position in RenovoRx, Inc. (NASDAQ:RNXT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 96,800 shares of the company’s stock, valued at approximately $151,000. T3 Companies LLC owned 0.21% of RenovoRx as of its most recent SEC filing. 3.10% of the stock is owned by institutional investors.

RenovoRx Company Profile

RenovoRx, Inc is a clinical-stage biopharmaceutical company developing targeted treatments for solid tumors. The company’s approach is based on its Trans-Arterial Micro-Perfusion (TAMP) platform, which is designed to deliver chemotherapy directly into tumor tissue through the arterial system while limiting exposure to surrounding healthy tissue.

RenovoRx’s lead investigational product, RenovoCath, is a localized drug-delivery system intended to support the administration of anticancer therapies to tumors.