RenovoRx (NASDAQ:RNXT) CFO Mark Voll Buys 25,000 Shares of Stock

RenovoRx, Inc. (NASDAQ:RNXTGet Free Report) CFO Mark Voll acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $0.79 per share, with a total value of $19,750.00. Following the purchase, the chief financial officer directly owned 142,380 shares of the company’s stock, valued at $112,480.20. This trade represents a 21.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

RenovoRx Stock Performance

NASDAQ:RNXT opened at $0.88 on Friday. The stock has a fifty day moving average of $0.94 and a 200 day moving average of $0.93. RenovoRx, Inc. has a 52-week low of $0.70 and a 52-week high of $1.45. The firm has a market capitalization of $39.76 million, a price-to-earnings ratio of -2.67 and a beta of 1.00.

RenovoRx (NASDAQ:RNXTGet Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). RenovoRx had a negative return on equity of 135.03% and a negative net margin of 823.98%.The business had revenue of $0.56 million for the quarter, compared to the consensus estimate of $0.47 million. Equities analysts forecast that RenovoRx, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RNXT has been the topic of a number of research reports. JonesTrading upgraded RenovoRx to a “strong-buy” rating in a research report on Thursday, January 29th. Wall Street Zen downgraded RenovoRx from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 4th. Ascendiant Capital Markets raised their price target on RenovoRx from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday, April 9th. Finally, HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of RenovoRx in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.25.

Get Our Latest Stock Analysis on RenovoRx

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new position in RenovoRx during the 2nd quarter valued at about $98,000. Bleichroeder LP boosted its position in RenovoRx by 11.4% during 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. Geode Capital Management LLC boosted its position in 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 in the last quarter. Wealthspire Advisors LLC bought a new stake in RenovoRx during the 4th quarter valued at approximately $212,000. Finally, Citadel Advisors LLC bought a new stake in RenovoRx during the 3rd quarter valued at approximately $154,000. Hedge funds and other institutional investors own 3.10% of the company’s stock.

About RenovoRx

(Get Free Report)

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, RenovoCathâ„¢, 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.

RenovoCathâ„¢ is being evaluated in multiple clinical trials targeting advanced pancreatic cancer and metastatic colorectal cancer, among other solid tumors.

Further Reading

Insider Buying and Selling by Quarter for RenovoRx (NASDAQ:RNXT)

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