RenovoRx (NASDAQ:RNXT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded RenovoRx from “sell” to “hold.” Analysts overall have a “Moderate Buy” consensus rating and an $8.50 average price target, despite mixed ratings from other firms.
• RenovoRx reported quarterly EPS of -$0.05, beating estimates of -$0.07, while revenue of $0.91 million exceeded expectations. The company remains unprofitable, with a negative net margin of 621.71%.
• RenovoRx shares opened at $1.33, compared with a 12-month range of $0.70 to $2.59. Hedge fund T3 Companies recently purchased 96,800 shares, while institutional investors collectively own 3.10% of the company.

RenovoRx (NASDAQ:RNXT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings raised RenovoRx from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $8.50.

RenovoRx Price Performance

RenovoRx stock opened at $1.33 on Friday. RenovoRx has a 12-month low of $0.70 and a 12-month high of $2.59. The stock has a market capitalization of $60.02 million, a P/E ratio of -4.29 and a beta of 0.98. The firm's 50-day moving average is $1.56 and its two-hundred day moving average is $1.10.

RenovoRx (NASDAQ:RNXT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. RenovoRx had a negative net margin of 621.71% and a negative return on equity of 135.11%. The business had revenue of $0.91 million during the quarter, compared to analyst estimates of $0.70 million. As a group, analysts forecast that RenovoRx will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in RenovoRx stock. T3 Companies LLC bought a new position in RenovoRx, Inc. (NASDAQ:RNXT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 96,800 shares of the company's stock, valued at approximately $151,000. T3 Companies LLC owned about 0.21% of RenovoRx as of its most recent filing with the Securities and Exchange Commission (SEC). 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 targeted treatments for solid tumors. The company's approach is based on its Trans-Arterial Micro-Perfusion (TAMP) platform, which is designed to deliver chemotherapy directly into tumor tissue through the arterial system while limiting exposure to surrounding healthy tissue.

RenovoRx's lead investigational product, RenovoCath, is a localized drug-delivery system intended to support the administration of anticancer therapies to tumors.

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