RenovoRx (NASDAQ:RNXT) Coverage Initiated at HC Wainwright

Investment analysts at HC Wainwright initiated coverage on shares of RenovoRx (NASDAQ:RNXT) in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 194.12% from the stock’s previous close.

Separately, Ascendiant Capital Markets increased their target price on shares of RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

RenovoRx Stock Performance

RNXT opened at $1.02 on Thursday. RenovoRx has a fifty-two week low of $0.77 and a fifty-two week high of $1.69. The firm has a 50-day moving average of $1.14 and a 200 day moving average of $1.15. The firm has a market cap of $24.48 million, a P/E ratio of -1.79 and a beta of 1.15.

Institutional Investors Weigh In On RenovoRx

Several large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new position in shares of RenovoRx in the fourth quarter worth about $49,000. Renaissance Technologies LLC purchased a new position in RenovoRx in the 4th quarter valued at approximately $84,000. Finally, Geode Capital Management LLC raised its holdings in RenovoRx by 61.9% during the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after acquiring an additional 89,018 shares during the period. Hedge funds and other institutional investors own 3.10% of the company’s stock.

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.