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

RenovoRx, Inc. (NASDAQ:RNXT) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 38,700 shares, a decline of 37.2% from the May 31st total of 61,600 shares. Based on an average daily trading volume, of 51,800 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are short sold.

RenovoRx Price Performance

RNXT traded down $0.03 during trading on Friday, hitting $1.13. 28,615 shares of the stock traded hands, compared to its average volume of 54,546. RenovoRx has a twelve month low of $0.53 and a twelve month high of $3.29. The company has a market cap of $27.07 million, a price-to-earnings ratio of -1.57 and a beta of 1.03. The business has a 50 day moving average price of $1.24 and a 200 day moving average price of $1.31.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.07) EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets started coverage on shares of RenovoRx in a research report on Monday, June 17th. They issued a “buy” rating and a $8.00 price target for the company.

Institutional Trading of RenovoRx

A hedge fund recently bought a new stake in RenovoRx stock. Nixon Peabody Trust Co. acquired a new position in RenovoRx, Inc. (NASDAQ:RNXT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned about 0.91% of RenovoRx as of its most recent SEC filing. Institutional investors own 3.10% of the company’s stock.

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.