Renovaro (NASDAQ:RENB) Stock Price Up 2.3% – Still a Buy?

Renovaro Inc. (NASDAQ:RENB)’s stock price was up 2.3% during trading on Friday . The stock traded as high as $1.95 and last traded at $1.76. Approximately 801,579 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 572,997 shares. The stock had previously closed at $1.72.

Renovaro Stock Performance

The company has a market capitalization of $279.35 million, a P/E ratio of -1.83 and a beta of 0.65. The stock has a fifty day moving average of $0.76 and a 200 day moving average of $0.93.

Renovaro (NASDAQ:RENB) last posted its quarterly earnings data on Thursday, October 10th. The company reported ($0.45) EPS for the quarter.

Hedge Funds Weigh In On Renovaro

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Renovaro during the 2nd quarter valued at $79,000. Barclays PLC increased its stake in Renovaro by 315.7% in the 3rd quarter. Barclays PLC now owns 69,531 shares of the company’s stock worth $34,000 after buying an additional 52,804 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Renovaro during the second quarter valued at about $220,000. Finally, State Street Corp lifted its position in shares of Renovaro by 3.8% in the third quarter. State Street Corp now owns 1,323,832 shares of the company’s stock valued at $640,000 after acquiring an additional 48,114 shares in the last quarter. Hedge funds and other institutional investors own 71.41% of the company’s stock.

Renovaro Company Profile

Renovaro Inc, a pre-clinical stage biotechnology company, engages in the research and development of pharmaceutical and biological products for the human treatment of human immunodeficiency virus (HIV), hepatitis B virus (HBV), and cancer in the United States. The company’s product pipeline includes RENB-HV-01 for autologous HIV curative treatment; RENB-HV-12, a therapeutic HIV vaccine; and RENB-HB-01, a gene therapy curative treatment for HBV.