RenovoRx (NASDAQ:RNXT) CFO Buys $19,750.00 in Stock

RenovoRx, Inc. (NASDAQ:RNXT) CFO Mark Voll acquired 25,000 shares of RenovoRx stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $0.79 per share, with a total value of $19,750.00. Following the completion of the purchase, the chief financial officer owned 142,380 shares in the company, valued at approximately $112,480.20. This represents a 21.30% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

RenovoRx Trading Down 0.0%

Shares of RenovoRx stock opened at $0.88 on Friday. The stock has a 50-day moving average price of $0.94 and a 200 day moving average price of $0.93. The company has a market cap of $39.76 million, a P/E ratio of -2.67 and a beta of 1.00. RenovoRx, Inc. has a 1 year low of $0.70 and a 1 year high of $1.45.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $0.56 million during the quarter, compared to the consensus estimate of $0.47 million. RenovoRx had a negative return on equity of 135.03% and a negative net margin of 823.98%. On average, equities analysts forecast that RenovoRx, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On RenovoRx

A number of hedge funds and other institutional investors have recently made changes to their positions in RNXT. XTX Topco Ltd increased its holdings in shares of RenovoRx by 58.6% during the 4th quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock valued at $42,000 after acquiring an additional 18,525 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of RenovoRx during the 2nd quarter valued at about $98,000. Citadel Advisors LLC acquired a new position in shares of RenovoRx during the 3rd quarter valued at about $154,000. Wealthspire Advisors LLC acquired a new position in shares of RenovoRx during the 4th quarter valued at about $212,000. Finally, Geode Capital Management LLC increased its holdings in shares of RenovoRx by 9.9% during 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 during the last quarter. 3.10% of the stock is owned by hedge funds and other institutional investors.

RenovoRx Company Profile

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.