RenovoRx (NASDAQ:RNXT) Posts Quarterly Earnings Results

RenovoRx (NASDAQ:RNXT) announced its quarterly earnings data on Monday. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01), reports. The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.17 million.

RenovoRx Stock Up 1.0 %

Shares of RenovoRx stock traded up $0.01 on Wednesday, hitting $0.97. The stock had a trading volume of 5,776 shares, compared to its average volume of 70,506. RenovoRx has a one year low of $0.77 and a one year high of $1.69. The stock’s 50-day simple moving average is $1.10 and its two-hundred day simple moving average is $1.15. The stock has a market cap of $23.28 million, a price-to-earnings ratio of -1.70 and a beta of 1.15.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. HC Wainwright began coverage on shares of RenovoRx in a research note on Thursday, March 27th. They issued a “buy” rating and a $3.00 price target for the company. Ascendiant Capital Markets boosted their target price on RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

About RenovoRx

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.