RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Update

RenovoRx, Inc. (NASDAQ:RNXT) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 189,200 shares, a decline of 19.6% from the February 28th total of 235,200 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 132,200 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Ratings Changes

Several research firms recently weighed in on RNXT. HC Wainwright started coverage on shares of RenovoRx in a research report on Thursday, March 27th. They issued a “buy” rating and a $3.00 price objective for the company. Ascendiant Capital Markets increased their price target on RenovoRx from $8.25 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th.

RenovoRx Trading Down 3.0 %

NASDAQ RNXT opened at $0.96 on Wednesday. The firm has a market capitalization of $23.04 million, a P/E ratio of -1.68 and a beta of 1.15. The firm’s fifty day moving average price is $1.10 and its two-hundred day moving average price is $1.15. RenovoRx has a 1 year low of $0.77 and a 1 year high of $1.69.

Hedge Funds Weigh In On RenovoRx

A number of large investors have recently made changes to their positions in RNXT. Geode Capital Management LLC raised its holdings in RenovoRx by 61.9% in 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in RenovoRx in the fourth quarter valued at approximately $84,000. Finally, Citadel Advisors LLC bought a new stake in RenovoRx during the 4th quarter worth $49,000. 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.