Ramtin Agah Purchases 21,000 Shares of RenovoRx, Inc. (NASDAQ:RNXT) Stock

RenovoRx, Inc. (NASDAQ:RNXT - Get Free Report) insider Ramtin Agah bought 21,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $1.40 per share, with a total value of $29,400.00. Following the transaction, the insider now owns 734,460 shares in the company, valued at approximately $1,028,244. This represents a 2.94% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ramtin Agah also recently made the following trade(s):

• On Tuesday, April 15th, Ramtin Agah purchased 15,000 shares of RenovoRx stock. The shares were purchased at an average cost of $0.90 per share, with a total value of $13,500.00.
• On Friday, April 11th, Ramtin Agah bought 20,000 shares of RenovoRx stock. The stock was bought at an average price of $0.80 per share, with a total value of $16,000.00.
• On Tuesday, April 8th, Ramtin Agah acquired 26,000 shares of RenovoRx stock. The stock was acquired at an average cost of $0.84 per share, for a total transaction of $21,840.00.

RenovoRx Stock Performance

NASDAQ:RNXT remained flat at $1.36 during trading hours on Thursday. 73,586 shares of the company's stock traded hands, compared to its average volume of 94,986. The firm has a 50 day moving average price of $1.09 and a 200 day moving average price of $1.16. RenovoRx, Inc. has a 1 year low of $0.75 and a 1 year high of $1.69. The stock has a market cap of $49.74 million, a P/E ratio of -2.39 and a beta of 1.32.

RenovoRx (NASDAQ:RNXT - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). The company had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.23 million. As a group, sell-side analysts expect that RenovoRx, Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RNXT has been the topic of several analyst reports. Wall Street Zen raised shares of RenovoRx to a "sell" rating in a research report on Friday, June 6th. Ascendiant Capital Markets upped their price target on shares of RenovoRx from $11.00 to $11.50 and gave the company a "buy" rating in a report on Thursday, June 5th. Finally, HC Wainwright reiterated a "buy" rating and issued a $3.00 target price on shares of RenovoRx in a research note on Monday, May 19th.

Institutional Trading of RenovoRx

Several hedge funds and other institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC bought a new position in RenovoRx in the first quarter valued at approximately $40,000. Citadel Advisors LLC acquired a new position in RenovoRx in the fourth quarter valued at approximately $49,000. Renaissance Technologies LLC bought a new position in shares of RenovoRx during the 4th quarter worth about $84,000. Chicago Partners Investment Group LLC bought a new position in shares of RenovoRx in the 1st quarter worth $97,000. Finally, Corsair Capital Management L.P. bought a new position in RenovoRx in the 1st quarter valued at about $186,000. Institutional investors and hedge funds own 3.10% of the company's stock.

RenovoRx Company Profile

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.