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

RenovoRx, Inc. (NASDAQ:RNXT) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 205,900 shares, an increase of 60.7% from the January 31st total of 128,100 shares. Based on an average daily volume of 146,500 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.6% of the company’s stock are sold short.

RenovoRx Price Performance

RenovoRx stock opened at $1.00 on Friday. RenovoRx has a 52 week low of $0.77 and a 52 week high of $1.86. The company has a market capitalization of $24.00 million, a price-to-earnings ratio of -1.75 and a beta of 1.10. The stock has a 50-day moving average price of $1.27 and a 200 day moving average price of $1.16.

Institutional Investors Weigh In On RenovoRx

Institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC acquired a new stake in shares of RenovoRx during the fourth quarter worth about $49,000. Renaissance Technologies LLC purchased a new position in RenovoRx during the fourth quarter valued at approximately $84,000. Finally, Geode Capital Management LLC raised its position in RenovoRx by 61.9% during the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after acquiring an additional 89,018 shares in the last quarter. Institutional investors and hedge funds own 3.10% of the company’s stock.

Analysts Set New Price Targets

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

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.