RenovoRx, Inc. (NASDAQ:RNXT – Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 674,017 shares, an increase of 137.8% from the July 30th total of 283,437 shares. Based on an average trading volume of 553,338 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.6% of the company’s shares are sold short.
Analyst Ratings Changes
RNXT has been the topic of a number of research analyst reports. Wall Street Zen raised RenovoRx from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of RenovoRx from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th. Finally, Ascendiant Capital Markets lifted their price objective on shares of RenovoRx from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Monday, June 1st. One 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.50.
View Our Latest Stock Report on RNXT
Hedge Funds Weigh In On RenovoRx
RenovoRx Stock Performance
Shares of NASDAQ RNXT traded up $0.14 during trading on Friday, reaching $1.62. The stock had a trading volume of 641,984 shares, compared to its average volume of 338,293. The stock has a market cap of $73.34 million, a PE ratio of -5.24 and a beta of 0.99. RenovoRx has a one year low of $0.70 and a one year high of $1.64. The firm’s 50 day moving average price is $1.04 and its two-hundred day moving average price is $0.96.
RenovoRx (NASDAQ:RNXT – Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $0.91 million for the quarter, compared to analyst estimates of $0.70 million. RenovoRx had a negative return on equity of 135.11% and a negative net margin of 621.71%. On average, research analysts expect that RenovoRx will post -0.25 earnings per share for the current year.
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.
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