RenovoRx (NASDAQ:RNXT) Rating Increased to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of RenovoRx (NASDAQ:RNXT – Free Report) from a sell rating to a hold rating in a research note issued to investors on Sunday.

A number of other brokerages also recently issued reports on RNXT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. Ascendiant Capital Markets raised their price target on RenovoRx from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, JonesTrading upgraded RenovoRx to a “strong-buy” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, RenovoRx has an average rating of “Moderate Buy” and a consensus target price of $8.00.

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RenovoRx Stock Up 3.4%

NASDAQ:RNXT opened at $0.84 on Friday. The stock has a market capitalization of $30.61 million, a price-to-earnings ratio of -2.32 and a beta of 1.34. RenovoRx has a 52 week low of $0.70 and a 52 week high of $1.45. The firm has a 50 day moving average of $0.95 and a 200 day moving average of $1.01.

Institutional Investors Weigh In On RenovoRx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RNXT. XTX Topco Ltd lifted its holdings in RenovoRx by 58.6% in the fourth quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock valued at $42,000 after acquiring an additional 18,525 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in RenovoRx during the second quarter worth $98,000. Citadel Advisors LLC acquired a new stake in shares of RenovoRx during the 3rd quarter valued at about $154,000. Wealthspire Advisors LLC acquired a new stake in shares of RenovoRx during the 4th quarter valued at about $212,000. Finally, Geode Capital Management LLC increased its stake in shares of RenovoRx by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after purchasing an additional 31,730 shares in the last quarter. 3.10% of the stock is owned by institutional investors and hedge funds.

RenovoRx Company Profile

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RenovoRx, Inc is a clinical-stage medical technology company focused on the development of proprietary drug-device combination therapies for the treatment of solid tumor malignancies. The company’s lead product candidate, RenovoCath™, is an intra-arterial catheter system designed to deliver high concentrations of chemotherapeutic agents directly to tumor sites while minimizing systemic exposure. RenovoRx seeks to improve clinical outcomes and reduce adverse effects by enhancing drug delivery precision in hard-to-treat cancers.

RenovoCath™ is being evaluated in multiple clinical trials targeting advanced pancreatic cancer and metastatic colorectal cancer, among other solid tumors.

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