RenovoRx FY2027 EPS Estimate Decreased by HC Wainwright

RenovoRx, Inc. (NASDAQ:RNXT) – Stock analysts at HC Wainwright cut their FY2027 earnings per share (EPS) estimates for shares of RenovoRx in a research report issued to clients and investors on Wednesday, April 8th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings per share of $0.00 for the year, down from their prior estimate of $0.05. HC Wainwright has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for RenovoRx’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for RenovoRx’s FY2028 earnings at $0.23 EPS, FY2029 earnings at $0.31 EPS and FY2030 earnings at $0.39 EPS.

Other equities research analysts have also issued reports about the company. JonesTrading upgraded RenovoRx to a “strong-buy” rating in a report on Thursday, January 29th. Wall Street Zen lowered RenovoRx from a “hold” rating to a “strong sell” rating in a report on Saturday, April 4th. Ascendiant Capital Markets lifted their price target on RenovoRx from $12.50 to $13.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of RenovoRx in a report on Monday, December 29th. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

RenovoRx Trading Up 4.3%

Shares of NASDAQ RNXT opened at $0.94 on Thursday. RenovoRx has a one year low of $0.70 and a one year high of $1.45. The firm has a market capitalization of $42.30 million, a PE ratio of -2.93 and a beta of 1.22. The business has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $0.99.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data 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 firm had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.42 million. During the same period last year, the company posted ($0.40) EPS.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bleichroeder LP raised its stake in shares of RenovoRx by 11.4% in the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after acquiring an additional 61,379 shares in the last quarter. Wealthspire Advisors LLC bought a new position in shares of RenovoRx in the 4th quarter valued at approximately $212,000. Citadel Advisors LLC bought a new position in shares of RenovoRx in the 3rd quarter valued at approximately $154,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of RenovoRx in the 2nd quarter valued at approximately $98,000. 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 acquiring an additional 31,730 shares in the last quarter. 3.10% of the stock is 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.