Key Points
- RenovoRx CFO Mark Voll bought 25,000 shares at $0.79 each, spending $19,750 and increasing his stake by 21.3% to 142,380 shares.
- The company recently reported quarterly EPS of -$0.08, matching analyst expectations, while revenue of $0.56 million came in above estimates.
- Analyst sentiment is mixed but leans positive, with a Moderate Buy consensus and an average price target of $8.25, though some firms have issued much higher or lower targets.
RenovoRx, Inc. (NASDAQ:RNXT - Get Free Report) CFO Mark Voll acquired 25,000 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $0.79 per share, for a total transaction of $19,750.00. Following the completion of the transaction, the chief financial officer owned 142,380 shares in the company, valued at approximately $112,480.20. This represents a 21.30% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
RenovoRx Stock Performance
RenovoRx stock opened at $0.88 on Friday. The stock's 50 day simple moving average is $0.94 and its two-hundred day simple moving average is $0.93. The stock has a market cap of $39.76 million, a price-to-earnings ratio of -2.67 and a beta of 1.00. RenovoRx, Inc. has a fifty-two week low of $0.70 and a fifty-two week high of $1.45.
RenovoRx (NASDAQ:RNXT - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.56 million during the quarter, compared to analyst estimates of $0.47 million. RenovoRx had a negative net margin of 823.98% and a negative return on equity of 135.03%. On average, analysts predict that RenovoRx, Inc. will post -0.3 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on RNXT. Ascendiant Capital Markets boosted their price target on RenovoRx from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Thursday, April 9th. HC Wainwright reissued a "buy" rating and issued a $3.00 price target on shares of RenovoRx in a research report on Wednesday, April 8th. Wall Street Zen cut RenovoRx from a "hold" rating to a "strong sell" rating in a research report on Saturday, April 4th. Finally, JonesTrading raised RenovoRx to a "strong-buy" rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $8.25.
Check Out Our Latest Research Report on RNXT
Hedge Funds Weigh In On RenovoRx
Several hedge funds and other institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC lifted its holdings in shares of RenovoRx by 30.8% during the 1st quarter. AIGH Capital Management LLC now owns 3,706,197 shares of the company's stock valued at $3,682,000 after buying an additional 872,303 shares during the period. Bleichroeder LP lifted its holdings in shares of RenovoRx by 11.4% during the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company's stock valued at $504,000 after buying an additional 61,379 shares during the period. Geode Capital Management LLC lifted its holdings in shares of RenovoRx by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company's stock valued at $467,000 after buying an additional 31,730 shares during the period. Wealthspire Advisors LLC bought a new position in shares of RenovoRx during the 4th quarter valued at $212,000. Finally, Citadel Advisors LLC bought a new position in shares of RenovoRx during the 3rd quarter valued at $154,000. 3.10% of the stock is owned by institutional investors.
RenovoRx Company Profile
(
Get Free Report)
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.
Further Reading
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