HC Wainwright Begins Coverage on RenovoRx (NASDAQ:RNXT)

HC Wainwright initiated coverage on shares of RenovoRx (NASDAQ:RNXT) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $3.00 price objective on the stock.

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 note on Tuesday, December 10th.

RenovoRx Price Performance

Shares of RenovoRx stock opened at $1.00 on Thursday. The company has a market cap of $24.00 million, a PE ratio of -1.75 and a beta of 1.15. The firm has a fifty day moving average price of $1.12 and a two-hundred day moving average price of $1.15. RenovoRx has a fifty-two week low of $0.77 and a fifty-two week high of $1.69.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Geode Capital Management LLC increased 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 buying an additional 89,018 shares during the period. Citadel Advisors LLC bought a new position in shares of RenovoRx during the 4th quarter worth about $49,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of RenovoRx during the 4th quarter valued at about $84,000. 3.10% of the stock is currently owned by institutional investors and hedge funds.

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.