Mark Voll Purchases 25,000 Shares of RenovoRx (NASDAQ:RNXT) Stock

RenovoRx, Inc. (NASDAQ:RNXT) CFO Mark Voll acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $0.79 per share, with a total value of $19,750.00. Following the completion of the transaction, the chief financial officer directly owned 142,380 shares in the company, valued at $112,480.20. This trade represents a 21.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RenovoRx Stock Performance

Shares of RNXT opened at $0.88 on Friday. The stock has a 50 day simple moving average of $0.94 and a 200 day simple moving average of $0.93. RenovoRx, Inc. has a 52-week low of $0.70 and a 52-week high of $1.45. The firm has a market capitalization of $39.76 million, a PE ratio of -2.67 and a beta of 1.00.

RenovoRx (NASDAQ:RNXT) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). RenovoRx had a negative return on equity of 135.03% and a negative net margin of 823.98%.The business had revenue of $0.56 million during the quarter, compared to analyst estimates of $0.47 million. Equities research analysts predict that RenovoRx, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RNXT shares. Wall Street Zen cut RenovoRx from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 4th. Ascendiant Capital Markets boosted their target price on RenovoRx from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Thursday, April 9th. JonesTrading upgraded RenovoRx to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of RenovoRx in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.25.

Institutional Investors Weigh In On RenovoRx

Several institutional investors have recently bought and sold shares of the company. XTX Topco Ltd increased its holdings in shares of RenovoRx by 58.6% during the 4th quarter. XTX Topco Ltd now owns 50,140 shares of the company’s stock worth $42,000 after acquiring an additional 18,525 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of RenovoRx by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock worth $467,000 after acquiring an additional 31,730 shares during the last quarter. Bleichroeder LP increased its holdings in shares of RenovoRx by 11.4% during the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock worth $504,000 after acquiring an additional 61,379 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of RenovoRx during the 2nd quarter worth approximately $98,000. Finally, Citadel Advisors LLC acquired a new position in shares of RenovoRx during the 3rd quarter worth approximately $154,000. 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.