RenovoRx (NASDAQ:RNXT) Insider Ramtin Agah Buys 12,000 Shares

RenovoRx, Inc. (NASDAQ:RNXT) insider Ramtin Agah purchased 12,000 shares of RenovoRx stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average price of $0.85 per share, for a total transaction of $10,200.00. Following the transaction, the insider directly owned 778,460 shares in the company, valued at $661,691. This represents a 1.57% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ramtin Agah also recently made the following trade(s):

• On Friday, December 5th, Ramtin Agah acquired 10,000 shares of RenovoRx stock. The shares were purchased at an average price of $0.96 per share, with a total value of $9,600.00.
• On Monday, November 24th, Ramtin Agah bought 12,000 shares of RenovoRx stock. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $9,600.00.
• On Friday, November 21st, Ramtin Agah purchased 10,000 shares of RenovoRx stock. The stock was acquired at an average price of $0.80 per share, for a total transaction of $8,000.00.

RenovoRx Price Performance

Shares of RNXT stock traded up $0.02 on Thursday, hitting $0.89. 9,053 shares of the company’s stock were exchanged, compared to its average volume of 272,032. The company has a 50 day moving average of $0.99 and a 200 day moving average of $1.15. The stock has a market cap of $32.55 million, a P/E ratio of -2.43 and a beta of 1.30. RenovoRx, Inc. has a 12 month low of $0.70 and a 12 month high of $1.69.

RenovoRx (NASDAQ:RNXT) last released its earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $0.27 million for the quarter, compared to analysts’ expectations of $0.41 million. RenovoRx had a negative return on equity of 122.19% and a negative net margin of 1,196.66%. Sell-side analysts predict that RenovoRx, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On RenovoRx

Large investors have recently added to or reduced their stakes in the business. Corsair Capital Management L.P. acquired a new position in RenovoRx in the first quarter valued at approximately $186,000. Alyeska Investment Group L.P. acquired a new stake in shares of RenovoRx during the 1st quarter worth approximately $682,000. HighTower Advisors LLC bought a new stake in shares of RenovoRx in the 1st quarter valued at $40,000. ADAR1 Capital Management LLC grew its holdings in RenovoRx by 143.3% in the first quarter. ADAR1 Capital Management LLC now owns 479,883 shares of the company’s stock worth $475,000 after purchasing an additional 282,633 shares during the period. Finally, Stonepine Capital Management LLC bought a new stake in RenovoRx in the first quarter valued at $275,000. Institutional investors and hedge funds own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on RNXT shares. Wall Street Zen cut RenovoRx from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of RenovoRx in a report on Monday. Finally, Ascendiant Capital Markets raised their price target on shares of RenovoRx from $12.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, November 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.75.

About RenovoRx

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary targeted combination therapies to improve therapeutic outcomes for cancer patients undergoing treatment. Its lead product candidate is RenovoGem, an oncology drug-device combination product, consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.