RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Update

RenovoRx, Inc. (NASDAQ:RNXT) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 71,900 shares, a decline of 21.8% from the October 15th total of 91,900 shares. Based on an average daily trading volume, of 33,000 shares, the short-interest ratio is presently 2.2 days. Currently, 0.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets raised their target price on RenovoRx from $8.00 to $8.25 and gave the stock a “buy” rating in a research note on Thursday, September 12th.

RenovoRx Stock Performance

NASDAQ:RNXT remained flat at $1.09 on Friday. 13,345 shares of the company’s stock traded hands, compared to its average volume of 43,926. The stock has a fifty day moving average price of $1.04 and a two-hundred day moving average price of $1.13. RenovoRx has a 12 month low of $0.53 and a 12 month high of $2.35. The firm has a market capitalization of $26.15 million, a PE ratio of -1.91 and a beta of 0.99.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.10) EPS for the quarter. Analysts forecast that RenovoRx will post -0.41 EPS for the current year.

Institutional Investors Weigh In On RenovoRx

A hedge fund recently raised its stake in RenovoRx stock. Geode Capital Management LLC boosted its stake in RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 232,937 shares of the company’s stock after buying an additional 89,018 shares during the period. Geode Capital Management LLC owned approximately 0.97% of RenovoRx worth $247,000 at the end of the most recent quarter. 3.10% of the stock is owned by hedge funds and other institutional investors.

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.