RenovoRx (NASDAQ:RNXT) Price Target Raised to $13.00

RenovoRx (NASDAQ:RNXT) had its price target hoisted by Ascendiant Capital Markets from $12.50 to $13.00 in a research note published on Tuesday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

RNXT has been the topic of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of RenovoRx in a research report on Monday, December 29th. JonesTrading upgraded RenovoRx to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen upgraded RenovoRx from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.00.

RenovoRx Stock Down 5.9%

Shares of NASDAQ RNXT opened at $0.94 on Tuesday. RenovoRx has a 52-week low of $0.70 and a 52-week high of $1.45. The firm’s 50-day moving average price is $0.96 and its 200-day moving average price is $1.03. The company has a market cap of $34.47 million, a PE ratio of -2.61 and a beta of 1.31.

Institutional Investors Weigh In On RenovoRx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its position in shares of 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 purchasing an additional 18,525 shares during the last quarter. Geode Capital Management LLC boosted its stake in RenovoRx by 9.9% during the second quarter. Geode Capital Management LLC now owns 353,603 shares of the company’s stock worth $467,000 after buying an additional 31,730 shares during the period. Bleichroeder LP increased its position in RenovoRx by 11.4% during the fourth quarter. Bleichroeder LP now owns 600,000 shares of the company’s stock valued at $504,000 after acquiring an additional 61,379 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of RenovoRx in the second quarter valued at $98,000. Finally, Citadel Advisors LLC purchased a new stake in shares of RenovoRx in the third quarter valued at $154,000. 3.10% of the stock is currently owned by hedge funds and other institutional investors.

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.