RenovoRx (NASDAQ:RNXT) Price Target Raised to $11.50

RenovoRx (NASDAQ:RNXT - Get Free Report) had its price objective upped by Ascendiant Capital Markets from $11.00 to $11.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently 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 Stock Up 0.7%

Shares of RNXT stock traded up $0.01 during mid-day trading on Thursday, hitting $1.40. 196,769 shares of the stock were exchanged, compared to its average volume of 94,522. The firm has a fifty day moving average of $1.05 and a 200 day moving average of $1.15. RenovoRx has a 52-week low of $0.75 and a 52-week high of $1.69. The company has a market cap of $51.20 million, a PE ratio of -2.46 and a beta of 1.32.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in RenovoRx in the 4th quarter valued at about $84,000. Alyeska Investment Group L.P. purchased a new position in RenovoRx in the 1st quarter valued at about $682,000. HighTower Advisors LLC purchased a new position in RenovoRx in the 1st quarter valued at about $40,000. AWM Investment Company Inc. purchased a new position in RenovoRx in the 1st quarter valued at about $2,262,000. Finally, ADAR1 Capital Management LLC lifted its stake in RenovoRx by 143.3% in the 1st quarter. ADAR1 Capital Management LLC now owns 479,883 shares of the company's stock valued at $475,000 after buying an additional 282,633 shares in the last quarter. 3.10% of the stock is owned by hedge funds and other institutional investors.

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.