HC Wainwright Comments on RenovoRx FY2024 Earnings

RenovoRx, Inc. (NASDAQ:RNXT) – HC Wainwright issued their FY2024 earnings per share estimates for RenovoRx in a note issued to investors on Thursday, March 27th. HC Wainwright analyst S. Ramakanth anticipates that the company will post earnings per share of ($0.41) for the year. HC Wainwright has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for RenovoRx’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for RenovoRx’s Q4 2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.32) EPS, FY2026 earnings at ($0.25) EPS, FY2027 earnings at $0.08 EPS, FY2028 earnings at $0.26 EPS and FY2029 earnings at $0.38 EPS.

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

RenovoRx Stock Performance

Shares of RNXT opened at $0.96 on Monday. The firm has a market cap of $23.04 million, a P/E ratio of -1.68 and a beta of 1.15. RenovoRx has a twelve month low of $0.77 and a twelve month high of $1.69. The firm’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.15.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RNXT. Citadel Advisors LLC acquired a new position in RenovoRx during the 4th quarter worth approximately $49,000. Renaissance Technologies LLC bought a new stake in shares of RenovoRx in the fourth quarter worth $84,000. Finally, Geode Capital Management LLC boosted its holdings in RenovoRx by 61.9% during the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after purchasing an additional 89,018 shares during the last quarter. 3.10% of the stock is currently owned by institutional investors.

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.