RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Up 57.8% in December

RenovoRx, Inc. (NASDAQ:RNXT) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 115,500 shares, an increase of 57.8% from the December 15th total of 73,200 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 62,100 shares, the days-to-cover ratio is currently 1.9 days.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets boosted 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 6.4 %

NASDAQ RNXT traded up $0.09 on Friday, reaching $1.50. The company had a trading volume of 352,481 shares, compared to its average volume of 128,789. RenovoRx has a 52 week low of $0.77 and a 52 week high of $1.86. The stock’s 50 day moving average is $1.28 and its 200-day moving average is $1.15. The stock has a market cap of $36 million, a price-to-earnings ratio of -2.63 and a beta of 1.09.

Institutional Trading of RenovoRx

A hedge fund recently raised its stake in RenovoRx stock. Geode Capital Management LLC raised its position in 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 purchasing an additional 89,018 shares during the period. Geode Capital Management LLC owned approximately 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 hedge funds and other institutional investors.

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.