RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Update

RenovoRx, Inc. (NASDAQ:RNXT) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 73,200 shares, a decline of 17.3% from the November 30th total of 88,500 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 58,900 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted their price target on RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

Institutional Trading of RenovoRx

A hedge fund recently raised its stake in RenovoRx stock. Geode Capital Management LLC lifted its stake in shares of RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 232,937 shares of the company’s stock after buying an additional 89,018 shares during the period. Geode Capital Management LLC owned about 0.97% of RenovoRx worth $247,000 as of its most recent SEC filing. Institutional investors own 3.10% of the company’s stock.

RenovoRx Trading Down 5.8 %

NASDAQ:RNXT traded down $0.08 on Tuesday, hitting $1.31. The company’s stock had a trading volume of 103,246 shares, compared to its average volume of 50,730. RenovoRx has a one year low of $0.77 and a one year high of $2.12. The stock has a fifty day moving average of $1.18 and a two-hundred day moving average of $1.14. The firm has a market capitalization of $31.44 million, a P/E ratio of -2.30 and a beta of 1.11.

RenovoRx Company Profile

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary targeted combination therapies to improve therapeutic outcomes for cancer patients undergoing treatment. Its lead product candidate is RenovoGem, an oncology drug-device combination product, consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.