HC Wainwright Reiterates Buy Rating for VolitionRx (NYSE:VNRX)

Key Points

• HC Wainwright has reiterated a Buy rating on VolitionRx (NYSE:VNRX) with a price target of $2.50, suggesting a potential upside of 301.28% from its current price.
• Insider activity is notable, with CEO Cameron John Reynolds and Director Guy Archibald Innes each purchasing 78,125 shares at $0.64 per share, indicating confidence in the company's future.
• The company has a current market cap of $67.03 million and shows signs of institutional interest, with multiple investments reported in the second quarter of 2023.

VolitionRx (NYSE:VNRX - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $2.50 price objective on the stock. HC Wainwright's target price points to a potential upside of 301.28% from the stock's current price.

A number of other brokerages have also weighed in on VNRX. Jones Trading raised shares of VolitionRx to a "strong-buy" rating and set a $3.00 price target for the company in a research note on Tuesday, June 10th. D. Boral Capital reaffirmed a "buy" rating and issued a $5.00 price target on shares of VolitionRx in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, VolitionRx presently has a consensus rating of "Buy" and a consensus price target of $3.50.

VolitionRx Trading Up 3.0%

NYSE VNRX opened at $0.62 on Tuesday. VolitionRx has a 52 week low of $0.40 and a 52 week high of $0.94. The stock has a market cap of $67.03 million, a price-to-earnings ratio of -1.73 and a beta of 1.27. The company has a 50-day moving average price of $0.66 and a two-hundred day moving average price of $0.60.

Insider Activity at VolitionRx

In other news, CEO Cameron John Reynolds purchased 78,125 shares of VolitionRx stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average price of $0.64 per share, for a total transaction of $50,000.00. Following the transaction, the chief executive officer owned 2,609,847 shares in the company, valued at $1,670,302.08. The trade was a 3.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Guy Archibald Innes purchased 78,125 shares of VolitionRx stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $0.64 per share, with a total value of $50,000.00. Following the transaction, the director owned 966,814 shares in the company, valued at $618,760.96. This represents a 8.79% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 171,250 shares of company stock valued at $109,900. Company insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VNRX. Armistice Capital LLC increased its stake in VolitionRx by 3.5% in the 2nd quarter. Armistice Capital LLC now owns 8,493,074 shares of the company's stock valued at $6,455,000 after buying an additional 286,644 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in VolitionRx in the 2nd quarter valued at approximately $52,000. Millennium Management LLC acquired a new position in VolitionRx in the 4th quarter valued at approximately $36,000. Silverberg Bernstein Capital Management LLC increased its stake in VolitionRx by 42.8% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 200,782 shares of the company's stock valued at $153,000 after buying an additional 60,209 shares during the period. Finally, Blair William & Co. IL acquired a new position in VolitionRx in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 8.09% of the company's stock.

About VolitionRx

VolitionRx Limited, a multi-national epigenetics company, engages in the development of blood tests to help diagnose and monitor a range of cancers, and sepsis and COVID-19 in the United States and internationally. The company offers Nu.Q Vet, a cancer screening test for dogs and other animals; Nu.Q Nets for monitoring the immune system; Nu.Q Cancer for monitoring disease progression, response to treatment and minimal residual disease; Capture-PCR, an isolating and capturing circulating tumor derived DNA from plasma samples for early cancer detection; and Nu.Q Discover, a solution to profiling nucleosomes.

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