Short Interest in RenovoRx, Inc. (NASDAQ:RNXT) Increases By 60.7%

RenovoRx, Inc. (NASDAQ:RNXT) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 205,900 shares, a growth of 60.7% from the January 31st total of 128,100 shares. Based on an average daily volume of 146,500 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.6% of the shares of the company are short sold.

RenovoRx Stock Performance

Shares of RNXT stock traded down $0.01 during trading hours on Tuesday, hitting $0.94. The company had a trading volume of 76,800 shares, compared to its average volume of 65,999. The firm has a market capitalization of $22.49 million, a price-to-earnings ratio of -1.64 and a beta of 1.10. RenovoRx has a 12 month low of $0.77 and a 12 month high of $1.86. The firm’s fifty day moving average is $1.26 and its 200 day moving average is $1.16.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On RenovoRx

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of RenovoRx by 61.9% during the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after purchasing an additional 89,018 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in RenovoRx in the 4th quarter valued at about $84,000. Finally, Citadel Advisors LLC acquired a new position in shares of RenovoRx during the fourth quarter worth approximately $49,000. 3.10% of the stock is owned by institutional investors.

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.