RenovoRx (NASDAQ:RNXT) Raised to "Sell" at Wall Street Zen

Wall Street Zen upgraded shares of RenovoRx (NASDAQ:RNXT - Free Report) to a sell rating in a research note released on Friday morning.

A number of other research firms also recently commented on RNXT. Ascendiant Capital Markets increased their price objective on shares of RenovoRx from $11.00 to $11.50 and gave the company a "buy" rating in a report on Thursday. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 target price on shares of RenovoRx in a research note on Monday, May 19th.

RenovoRx Stock Performance

Shares of RNXT traded down $0.02 during mid-day trading on Friday, hitting $1.37. 165,486 shares of the company were exchanged, compared to its average volume of 95,133. RenovoRx has a 1-year low of $0.75 and a 1-year high of $1.69. The company has a 50 day moving average of $1.06 and a 200-day moving average of $1.15. The stock has a market cap of $50.10 million, a price-to-earnings ratio of -2.40 and a beta of 1.32.

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

Insider Transactions at RenovoRx

In other news, insider Ramtin Agah purchased 21,000 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $1.40 per share, for a total transaction of $29,400.00. Following the acquisition, the insider now directly owns 734,460 shares of the company's stock, valued at approximately $1,028,244. This represents a 2.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 128,145 shares of company stock worth $119,619 in the last 90 days. Insiders own 9.13% of the company's stock.

Institutional Trading of RenovoRx

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

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.