RenovoRx (NASDAQ:RNXT) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of RenovoRx (NASDAQ:RNXT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised shares of RenovoRx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.50.

RenovoRx Stock Up 1.6%

RNXT opened at $1.31 on Friday. RenovoRx has a fifty-two week low of $0.70 and a fifty-two week high of $2.59. The business has a 50-day moving average of $1.55 and a 200-day moving average of $1.10.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $0.91 million during the quarter, compared to analysts’ expectations of $0.70 million. RenovoRx had a negative return on equity of 135.11% and a negative net margin of 621.71%. As a group, sell-side analysts anticipate that RenovoRx will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On RenovoRx

A hedge fund recently bought a new position in RenovoRx stock. T3 Companies LLC acquired a new position in RenovoRx, Inc. (NASDAQ:RNXT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 96,800 shares of the company’s stock, valued at approximately $151,000. T3 Companies LLC owned 0.21% of RenovoRx as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 3.10% of the company’s stock.

About RenovoRx

RenovoRx, Inc is a clinical-stage biopharmaceutical company developing targeted treatments for solid tumors. The company’s approach is based on its Trans-Arterial Micro-Perfusion (TAMP) platform, which is designed to deliver chemotherapy directly into tumor tissue through the arterial system while limiting exposure to surrounding healthy tissue.

RenovoRx’s lead investigational product, RenovoCath, is a localized drug-delivery system intended to support the administration of anticancer therapies to tumors.