RenovoRx (NASDAQ:RNXT) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

RenovoRx (NASDAQ:RNXT) announced its quarterly earnings data on Monday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01), reports. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.17 million.

RenovoRx Price Performance

RenovoRx stock traded up $0.01 during trading hours on Wednesday, reaching $0.97. The stock had a trading volume of 10,440 shares, compared to its average volume of 134,993. The company has a fifty day simple moving average of $1.10 and a 200-day simple moving average of $1.15. The stock has a market cap of $23.28 million, a PE ratio of -1.70 and a beta of 1.15. RenovoRx has a 52 week low of $0.77 and a 52 week high of $1.69.

Analyst Ratings Changes

RNXT has been the topic of a number of analyst reports. Ascendiant Capital Markets boosted their price objective on RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. HC Wainwright initiated coverage on RenovoRx in a research note on Thursday, March 27th. They set a “buy” rating and a $3.00 price target for the company.

About RenovoRx

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.