RenovoRx (NASDAQ:RNXT) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

RenovoRx (NASDAQ:RNXT) issued its quarterly earnings data on Monday. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01), reports. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.17 million.

RenovoRx Stock Performance

Shares of RenovoRx stock traded up $0.01 on Wednesday, reaching $0.97. 10,513 shares of the stock were exchanged, compared to its average volume of 70,517. The firm has a market cap of $23.28 million, a PE ratio of -1.70 and a beta of 1.15. The firm’s 50 day moving average is $1.10 and its 200-day moving average is $1.15. RenovoRx has a one year low of $0.77 and a one year high of $1.69.

Analyst Ratings Changes

A number of research firms have issued reports on RNXT. Ascendiant Capital Markets boosted their price objective on shares of RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. HC Wainwright began coverage on RenovoRx in a research report on Thursday, March 27th. They set a “buy” rating and a $3.00 target price for the company.

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.