RenovoRx, Inc. (NASDAQ:RNXT) Insider Purchases $29,400.00 in Stock

RenovoRx, Inc. (NASDAQ:RNXT) insider Ramtin Agah bought 21,000 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $1.40 per share, with a total value of $29,400.00. Following the completion of the purchase, the insider now directly owns 734,460 shares of the company’s stock, valued at approximately $1,028,244. This trade represents a 2.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ramtin Agah also recently made the following trade(s):

• On Tuesday, April 15th, Ramtin Agah bought 15,000 shares of RenovoRx stock. The stock was purchased at an average price of $0.90 per share, with a total value of $13,500.00.
• On Friday, April 11th, Ramtin Agah bought 20,000 shares of RenovoRx stock. The stock was purchased at an average price of $0.80 per share, with a total value of $16,000.00.
• On Tuesday, April 8th, Ramtin Agah bought 26,000 shares of RenovoRx stock. The stock was purchased at an average price of $0.84 per share, with a total value of $21,840.00.

RenovoRx Price Performance

RNXT opened at $1.36 on Thursday. The stock has a market capitalization of $49.74 million, a PE ratio of -2.39 and a beta of 1.32. RenovoRx, Inc. has a 12-month low of $0.75 and a 12-month high of $1.69. The firm’s fifty day moving average price is $1.09 and its 200 day moving average price is $1.16.

RenovoRx (NASDAQ:RNXT) last issued its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.23 million. On average, equities research analysts forecast that RenovoRx, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of RenovoRx

A number of institutional investors and hedge funds have recently modified their holdings of the business. AIGH Capital Management LLC acquired a new stake in shares of RenovoRx during the first quarter worth $3,433,000. AWM Investment Company Inc. acquired a new stake in shares of RenovoRx during the first quarter worth $2,262,000. Alyeska Investment Group L.P. acquired a new stake in shares of RenovoRx during the first quarter worth $682,000. ADAR1 Capital Management LLC raised 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 worth $475,000 after purchasing an additional 282,633 shares during the period. Finally, Stonepine Capital Management LLC bought a new position in shares of RenovoRx during the first quarter worth about $275,000. 3.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on RNXT. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price target on shares of RenovoRx in a report on Monday, May 19th. Ascendiant Capital Markets upped their price target on shares of RenovoRx from $11.00 to $11.50 and gave the company a “buy” rating in a report on Thursday, June 5th. Finally, Wall Street Zen raised shares of RenovoRx to a “sell” rating in a report on Friday, June 6th.

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.