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

RenovoRx, Inc. (NASDAQ:RNXT) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 65,500 shares, an increase of 274.3% from the March 31st total of 17,500 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 47,900 shares, the days-to-cover ratio is presently 1.4 days.

RenovoRx Price Performance

NASDAQ RNXT remained flat at $1.21 during mid-day trading on Thursday. 3,465 shares of the company were exchanged, compared to its average volume of 58,076. The business has a 50-day simple moving average of $1.38 and a 200 day simple moving average of $1.20. RenovoRx has a 12-month low of $0.53 and a 12-month high of $3.29. The stock has a market cap of $20.41 million, a P/E ratio of -1.20 and a beta of 1.04.

RenovoRx (NASDAQ:RNXT) last issued its earnings results on Monday, April 1st. The company reported ($0.17) earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners initiated coverage on RenovoRx in a report on Friday, February 2nd. They issued a “buy” rating and a $4.00 price target on the stock.

Institutional Trading of RenovoRx

A hedge fund recently bought a new stake in RenovoRx stock. Nixon Peabody Trust Co. bought a new position in shares of RenovoRx, Inc. (NASDAQ:RNXT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned approximately 0.91% of RenovoRx as of its most recent filing with the Securities and Exchange Commission (SEC). 3.10% of the stock is currently owned by hedge funds and other institutional investors.

About RenovoRx

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for the treatment of solid tumors. Its lead product candidate is RenovoGem, a drug and device combination consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.