RenovoRx (NASDAQ:RNXT) Given New $11.50 Price Target at Ascendiant Capital Markets

RenovoRx (NASDAQ:RNXT) had its target price raised by Ascendiant Capital Markets from $11.00 to $11.50 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of RenovoRx in a report on Monday, May 19th.

RenovoRx Trading Up 1.5%

Shares of NASDAQ RNXT opened at $1.39 on Thursday. The firm has a market cap of $50.84 million, a PE ratio of -2.44 and a beta of 1.12. RenovoRx has a 1-year low of $0.75 and a 1-year high of $1.69. The company has a fifty day moving average price of $1.05 and a 200 day moving average price of $1.15.

RenovoRx (NASDAQ:RNXT) last issued its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.23 million. Equities research analysts forecast that RenovoRx will post -0.4 EPS for the current year.

Hedge Funds Weigh In On RenovoRx

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in RenovoRx in the fourth quarter worth $84,000. Alyeska Investment Group L.P. acquired a new stake in RenovoRx in the first quarter worth $682,000. HighTower Advisors LLC acquired a new stake in RenovoRx in the first quarter worth $40,000. AWM Investment Company Inc. acquired a new position in shares of RenovoRx during the first quarter valued at about $2,262,000. Finally, ADAR1 Capital Management LLC grew its holdings 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 last quarter. Institutional investors own 3.10% of the company’s stock.

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.