AIGH Capital Management LLC Increases Stake in RenovoRx, Inc. $RNXT

AIGH Capital Management LLC lifted its position in RenovoRx, Inc. (NASDAQ:RNXT) by 30.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,706,197 shares of the company’s stock after acquiring an additional 872,303 shares during the quarter. RenovoRx accounts for approximately 0.5% of AIGH Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. AIGH Capital Management LLC owned approximately 0.08% of RenovoRx worth $3,682,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in RNXT. XTX Topco Ltd grew its holdings in 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of RenovoRx by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock valued at $467,000 after purchasing an additional 31,730 shares in the last quarter. Bleichroeder LP raised its holdings in shares of RenovoRx by 11.4% in the 4th quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after purchasing an additional 61,379 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of RenovoRx in the 2nd quarter worth approximately $98,000. Finally, Citadel Advisors LLC purchased a new stake in shares of RenovoRx in the 3rd quarter worth approximately $154,000. 3.10% of the stock is owned by hedge funds and other institutional investors.

RenovoRx Stock Performance

Shares of RenovoRx stock opened at $0.90 on Thursday. The company has a market capitalization of $40.55 million, a PE ratio of -2.73 and a beta of 0.99. The company has a 50-day simple moving average of $0.89 and a two-hundred day simple moving average of $0.93. RenovoRx, Inc. has a one year low of $0.70 and a one year high of $1.45.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). RenovoRx had a negative net margin of 823.98% and a negative return on equity of 135.03%. The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.47 million. On average, equities analysts predict that RenovoRx, Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of RenovoRx from a “hold” rating to a “strong sell” rating in a report on Saturday, April 4th. Ascendiant Capital Markets upped their target price on RenovoRx from $13.50 to $14.00 and gave the stock a “buy” rating in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of RenovoRx in a research report on Wednesday, April 8th. Finally, Weiss Ratings downgraded RenovoRx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

RenovoRx Company Profile

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.