RenovoRx (NASDAQ:RNXT) Research Coverage Started at HC Wainwright

HC Wainwright began coverage on shares of RenovoRx (NASDAQ:RNXT) in a report published on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $3.00 target price on the stock.

Separately, Ascendiant Capital Markets raised their price objective on RenovoRx from $8.25 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

RenovoRx Price Performance

Shares of RNXT opened at $1.00 on Thursday. The company has a 50-day moving average of $1.12 and a two-hundred day moving average of $1.15. The stock has a market cap of $24.00 million, a price-to-earnings ratio of -1.75 and a beta of 1.15. RenovoRx has a one year low of $0.77 and a one year high of $1.69.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in RenovoRx in the fourth quarter worth $49,000. Renaissance Technologies LLC acquired a new position in shares of RenovoRx during the 4th quarter valued at about $84,000. Finally, Geode Capital Management LLC raised its stake in shares of RenovoRx by 61.9% in the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after acquiring an additional 89,018 shares in the last quarter. 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.