RenovoRx (NASDAQ:RNXT) Stock Rating Upgraded by Wall Street Zen

RenovoRx (NASDAQ:RNXT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded RenovoRx from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

RenovoRx Price Performance

NASDAQ RNXT opened at $1.26 on Friday. RenovoRx has a twelve month low of $0.70 and a twelve month high of $2.59. The business’s fifty day moving average is $1.56 and its 200 day moving average is $1.11.

RenovoRx (NASDAQ:RNXT) last issued its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $0.91 million during the quarter, compared to analysts’ expectations of $0.70 million. RenovoRx had a negative return on equity of 135.11% and a negative net margin of 621.71%. Equities research analysts forecast that RenovoRx will post -0.24 EPS for the current year.

Hedge Funds Weigh In On RenovoRx

An institutional investor recently bought a new position in RenovoRx stock. T3 Companies LLC acquired a new stake in RenovoRx, Inc. (NASDAQ:RNXT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,800 shares of the company’s stock, valued at approximately $151,000. T3 Companies LLC owned 0.21% of RenovoRx as of its most recent SEC filing. 3.10% of the stock is currently owned by institutional investors and hedge funds.

About RenovoRx

RenovoRx, Inc is a clinical-stage biopharmaceutical company developing targeted treatments for solid tumors. The company’s approach is based on its Trans-Arterial Micro-Perfusion (TAMP) platform, which is designed to deliver chemotherapy directly into tumor tissue through the arterial system while limiting exposure to surrounding healthy tissue.

RenovoRx’s lead investigational product, RenovoCath, is a localized drug-delivery system intended to support the administration of anticancer therapies to tumors.