RenovoRx (NASDAQ:RNXT) Given New $11.50 Price Target at Ascendiant Capital Markets

RenovoRx (NASDAQ:RNXT) had its price target raised by Ascendiant Capital Markets from $11.00 to $11.50 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of RenovoRx in a research report on Monday, May 19th.

RenovoRx Stock Performance

RenovoRx stock opened at $1.39 on Thursday. RenovoRx has a fifty-two week low of $0.75 and a fifty-two week high of $1.69. The stock has a market cap of $50.84 million, a PE ratio of -2.44 and a beta of 1.12. The firm’s 50-day simple moving average is $1.05 and its 200 day simple moving average is $1.15.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.23 million. As a group, analysts predict that RenovoRx will post -0.4 EPS for the current fiscal year.

Institutional Trading of RenovoRx

Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in RenovoRx in the fourth quarter worth about $49,000. HighTower Advisors LLC bought a new stake in shares of RenovoRx in the first quarter valued at approximately $40,000. Renaissance Technologies LLC bought a new stake in shares of RenovoRx in the fourth quarter valued at approximately $84,000. Chicago Partners Investment Group LLC bought a new stake in shares of RenovoRx in the first quarter valued at approximately $97,000. Finally, Corsair Capital Management L.P. bought a new stake in shares of RenovoRx in the first quarter valued at approximately $186,000. Institutional investors own 3.10% of the company’s stock.

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.