RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Down 17.3% in December

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in RenovoRx stock. Geode Capital Management LLC raised its holdings in RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% in the third quarter, according to the company in its most recent disclosure with the SEC. 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 as of its most recent filing with the SEC. 3.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

RenovoRx Stock Up 1.6 %

RNXT stock traded up $0.02 during trading on Friday, hitting $1.30. The company had a trading volume of 40,580 shares, compared to its average volume of 50,364. The firm has a 50-day moving average price of $1.17 and a 200-day moving average price of $1.13. The firm has a market cap of $31.20 million, a PE ratio of -2.28 and a beta of 1.11. RenovoRx has a 1-year low of $0.77 and a 1-year high of $2.35.

About RenovoRx

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.