Key Points
- Insider Ramtin Agah purchased 12,000 shares of RenovoRx on December 16 at $0.85 per share, raising his ownership to 778,460 shares (a 1.57% increase), per an SEC filing.
- Agah has been repeatedly buying RNXT recently — 10,000 shares on Dec 5 ($0.96), 12,000 on Nov 24 ($0.80) and 10,000 on Nov 21 ($0.80) — signaling ongoing insider accumulation.
- RNXT traded at $0.89 with a market capitalization of $32.55 million, negative EPS and margins, and mixed analyst views resulting in a consensus "Hold" rating with an average price target of $7.75.
RenovoRx, Inc. (NASDAQ:RNXT - Get Free Report) insider Ramtin Agah acquired 12,000 shares of the firm's stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average price of $0.85 per share, with a total value of $10,200.00. Following the acquisition, the insider owned 778,460 shares of the company's stock, valued at approximately $661,691. This represents a 1.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Ramtin Agah also recently made the following trade(s):
- On Friday, December 5th, Ramtin Agah bought 10,000 shares of RenovoRx stock. The stock was purchased at an average price of $0.96 per share, for a total transaction of $9,600.00.
- On Monday, November 24th, Ramtin Agah purchased 12,000 shares of RenovoRx stock. The shares were acquired at an average price of $0.80 per share, with a total value of $9,600.00.
- On Friday, November 21st, Ramtin Agah acquired 10,000 shares of RenovoRx stock. The shares were acquired at an average price of $0.80 per share, for a total transaction of $8,000.00.
RenovoRx Stock Performance
Shares of RenovoRx stock traded up $0.02 during trading hours on Thursday, reaching $0.89. The company's stock had a trading volume of 9,053 shares, compared to its average volume of 272,032. RenovoRx, Inc. has a one year low of $0.70 and a one year high of $1.69. The company has a market capitalization of $32.55 million, a P/E ratio of -2.43 and a beta of 1.30. The stock's fifty day simple moving average is $0.99 and its two-hundred day simple moving average is $1.15.
RenovoRx (NASDAQ:RNXT - Get Free Report) last posted its earnings results on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.27 million during the quarter, compared to the consensus estimate of $0.41 million. RenovoRx had a negative net margin of 1,196.66% and a negative return on equity of 122.19%. As a group, research analysts forecast that RenovoRx, Inc. will post -0.4 earnings per share for the current year.
Institutional Trading of RenovoRx
Hedge funds have recently bought and sold shares of the business. Corsair Capital Management L.P. bought a new stake in shares of RenovoRx during the 1st quarter worth $186,000. Alyeska Investment Group L.P. purchased a new position in RenovoRx in the 1st quarter valued at approximately $682,000. HighTower Advisors LLC bought a new stake in shares of RenovoRx during the 1st quarter valued at $40,000. ADAR1 Capital Management LLC increased its position in shares of RenovoRx by 143.3% during the first 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 during the period. Finally, AWM Investment Company Inc. purchased a new stake in shares of RenovoRx in the first quarter worth about $2,262,000. 3.10% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
RNXT has been the topic of several analyst reports. Ascendiant Capital Markets lifted their target price on RenovoRx from $12.00 to $12.50 and gave the company a "buy" rating in a research report on Friday, November 21st. Weiss Ratings restated a "sell (e+)" rating on shares of RenovoRx in a research note on Monday. Finally, Wall Street Zen downgraded shares of RenovoRx from a "hold" rating to a "sell" rating in a report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $7.75.
Read Our Latest Report on RNXT
RenovoRx Company Profile
(
Get Free Report)
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.
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