RenovoRx (NASDAQ:RNXT) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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

RenovoRx Stock Performance

Shares of RenovoRx stock traded up $0.03 during trading on Wednesday, hitting $0.99. The company’s stock had a trading volume of 13,839 shares, compared to its average volume of 135,068. RenovoRx has a 52 week low of $0.77 and a 52 week high of $1.69. The company has a market capitalization of $23.83 million, a PE ratio of -1.74 and a beta of 1.15. The company has a fifty day simple moving average of $1.10 and a two-hundred day simple moving average of $1.15.

Wall Street Analyst Weigh In

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

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.