Wall Street Zen Downgrades RenovoRx (NASDAQ:RNXT) to Sell

RenovoRx (NASDAQ:RNXT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Ascendiant Capital Markets upped their price objective on shares of RenovoRx from $12.50 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. JonesTrading upgraded shares of RenovoRx to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of RenovoRx in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, RenovoRx has an average rating of “Moderate Buy” and an average price target of $8.00.

RenovoRx Price Performance

Shares of RNXT opened at $0.79 on Friday. RenovoRx has a 1 year low of $0.70 and a 1 year high of $1.45. The stock has a 50 day simple moving average of $0.95 and a two-hundred day simple moving average of $1.01. The firm has a market cap of $28.96 million, a P/E ratio of -2.20 and a beta of 1.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd raised its holdings in RenovoRx by 58.6% during the 4th quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock valued at $42,000 after buying an additional 18,525 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in RenovoRx in the 2nd quarter worth $98,000. Citadel Advisors LLC purchased a new position in shares of RenovoRx in the third quarter valued at about $154,000. Wealthspire Advisors LLC purchased a new position in shares of RenovoRx in the fourth quarter valued at about $212,000. Finally, Geode Capital Management LLC raised its stake in shares of RenovoRx by 9.9% during the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after acquiring an additional 31,730 shares during the last quarter. Institutional investors own 3.10% of the company’s stock.

About RenovoRx

RenovoRx, Inc is a clinical-stage medical technology company focused on the development of proprietary drug-device combination therapies for the treatment of solid tumor malignancies. The company’s lead product candidate, RenovoCath™, is an intra-arterial catheter system designed to deliver high concentrations of chemotherapeutic agents directly to tumor sites while minimizing systemic exposure. RenovoRx seeks to improve clinical outcomes and reduce adverse effects by enhancing drug delivery precision in hard-to-treat cancers.

RenovoCath™ is being evaluated in multiple clinical trials targeting advanced pancreatic cancer and metastatic colorectal cancer, among other solid tumors.