Ascendiant Capital Markets Issues Positive Forecast for RenovoRx (NASDAQ:RNXT) Stock Price

RenovoRx (NASDAQ:RNXT - Get Free Report) had its price target upped by stock analysts at Ascendiant Capital Markets from $11.00 to $11.50 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock.

Separately, HC Wainwright reissued a "buy" rating and set a $3.00 target price on shares of RenovoRx in a research note on Monday, May 19th.

RenovoRx Price Performance

NASDAQ RNXT traded down $0.01 during mid-day trading on Thursday, reaching $1.39. 107,655 shares of the stock were exchanged, compared to its average volume of 94,850. RenovoRx has a one year low of $0.75 and a one year high of $1.69. The stock has a 50 day simple moving average of $1.06 and a 200-day simple moving average of $1.15. The stock has a market cap of $50.84 million, a P/E ratio of -2.44 and a beta of 1.32.

RenovoRx (NASDAQ:RNXT - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). The firm had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.23 million. Sell-side analysts anticipate that RenovoRx will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On RenovoRx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new stake in RenovoRx in the fourth quarter valued at $49,000. HighTower Advisors LLC bought a new stake in RenovoRx in the first quarter valued at $40,000. Renaissance Technologies LLC bought a new stake in RenovoRx in the fourth quarter valued at $84,000. Chicago Partners Investment Group LLC bought a new stake in RenovoRx in the first quarter valued at $97,000. Finally, Corsair Capital Management L.P. bought a new stake in RenovoRx in the first quarter valued at $186,000. 3.10% of the stock is owned by institutional investors.

About RenovoRx

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.