RenovoRx (NASDAQ:RNXT) Trading Up 1.4% – Still a Buy?

Shares of RenovoRx, Inc. (NASDAQ:RNXT) traded up 1.4% during mid-day trading on Friday . The company traded as high as $1.47 and last traded at $1.40. 129,511 shares were traded during trading, an increase of 165% from the average session volume of 48,814 shares. The stock had previously closed at $1.38.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets raised their price objective on RenovoRx from $8.00 to $8.25 and gave the company a “buy” rating in a research note on Thursday, September 12th.

RenovoRx Trading Up 1.4 %

The stock’s 50 day moving average is $1.09 and its 200 day moving average is $1.12. The stock has a market capitalization of $33.60 million, a price-to-earnings ratio of -2.46 and a beta of 1.11.

Institutional Trading of RenovoRx

An institutional investor recently raised its position in RenovoRx stock. Geode Capital Management LLC grew 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 0.97% of RenovoRx worth $247,000 at the end of the most recent reporting period. 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.