RenovoRx (NASDAQ:RNXT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RenovoRx (NASDAQ:RNXT) from a sell rating to a hold rating in a report released on Sunday.

Several other equities analysts have also recently issued reports on the company. Ascendiant Capital Markets lifted their price objective on RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. JonesTrading raised RenovoRx to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.00.

RenovoRx Stock Performance

Shares of NASDAQ:RNXT opened at $0.97 on Friday. RenovoRx has a one year low of $0.70 and a one year high of $1.45. The company has a 50-day simple moving average of $0.95 and a 200-day simple moving average of $1.01. The stock has a market capitalization of $35.41 million, a price-to-earnings ratio of -2.68 and a beta of 1.34.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RNXT. Wealthspire Advisors LLC acquired a new stake in RenovoRx in the fourth quarter worth about $212,000. AIGH Capital Management LLC grew its stake in shares of RenovoRx by 8.4% during the fourth quarter. AIGH Capital Management LLC now owns 2,833,894 shares of the company’s stock worth $2,380,000 after purchasing an additional 218,701 shares during the period. Citadel Advisors LLC bought a new stake in RenovoRx in the third quarter valued at about $154,000. Northwestern Mutual Wealth Management Co. acquired a new position in RenovoRx in the second quarter valued at about $98,000. Finally, Bleichroeder LP lifted its stake in RenovoRx by 11.4% in the fourth quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after buying an additional 61,379 shares during the period. 3.10% of the stock is currently owned by institutional investors.

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.