RenovoRx, Inc. (NASDAQ:RNXT – Get Free Report) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 71,900 shares, a decline of 21.8% from the October 15th total of 91,900 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 33,000 shares, the days-to-cover ratio is presently 2.2 days.
RenovoRx Stock Performance
Shares of NASDAQ:RNXT opened at $1.09 on Friday. The firm has a 50 day simple moving average of $1.04 and a 200 day simple moving average of $1.13. RenovoRx has a 52 week low of $0.53 and a 52 week high of $2.35. The company has a market cap of $26.15 million, a PE ratio of -1.91 and a beta of 0.99.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets raised their price objective on shares of RenovoRx from $8.00 to $8.25 and gave the company a “buy” rating in a research report on Thursday, September 12th.
Institutional Trading of RenovoRx
An institutional investor recently raised its position in RenovoRx stock. Geode Capital Management LLC boosted its holdings in shares of RenovoRx, Inc. (NASDAQ:RNXT – Free Report) by 61.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 232,937 shares of the company’s stock after acquiring an additional 89,018 shares during the quarter. Geode Capital Management LLC owned 0.97% of RenovoRx worth $247,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.10% of the company’s stock.
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.
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