RenovoRx (NASDAQ:RNXT) Shares Climb 3.3% – Should You Buy?

RenovoRx, Inc. (NASDAQ:RNXT)’s stock price was up 3.3% during mid-day trading on Thursday. The stock traded as high as $1.28 and last traded at $1.27. 225,739 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 495,081 shares. The stock had previously closed at $1.23.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RNXT shares. Wall Street Zen lowered shares of RenovoRx from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings raised shares of RenovoRx from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

RenovoRx Stock Performance

The stock’s fifty day simple moving average is $1.57 and its two-hundred day simple moving average is $1.16. The company has a market cap of $58.22 million, a price-to-earnings ratio of -4.16 and a beta of 0.98.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. RenovoRx had a negative return on equity of 135.11% and a negative net margin of 621.71%. The business had revenue of $0.91 million during the quarter, compared to the consensus estimate of $0.70 million. Analysts predict that RenovoRx, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in RenovoRx stock. T3 Companies LLC acquired a new position in RenovoRx, Inc. (NASDAQ:RNXT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,800 shares of the company’s stock, valued at approximately $151,000. T3 Companies LLC owned approximately 0.21% of RenovoRx as of its most recent SEC filing. Institutional investors and hedge funds own 3.10% of the company’s stock.

RenovoRx Company Profile

RenovoRx, Inc is a clinical-stage biopharmaceutical company developing localized treatments for solid tumors. The company’s technology is designed to deliver therapeutic agents directly to tumors through the arterial blood supply, with the goal of increasing drug exposure at the treatment site while limiting systemic exposure and associated side effects.

RenovoRx’s proprietary Trans-Arterial Micro-Perfusion (TAMP) platform combines an investigational drug formulation with a specialized delivery system.