Renalytix AI (NASDAQ:RNLX) Sees Unusually-High Trading Volume

Renalytix AI plc (NASDAQ:RNLX) saw strong trading volume on Thursday . 5,540 shares traded hands during mid-day trading, a decline of 93% from the previous session’s volume of 76,587 shares.The stock last traded at $30.50 and had previously closed at $30.07.

RNLX has been the subject of several research reports. Berenberg Bank assumed coverage on shares of Renalytix AI in a research note on Friday, July 2nd. They set a “buy” rating and a $38.00 price objective for the company. Zacks Investment Research raised shares of Renalytix AI from a “sell” rating to a “hold” rating in a research report on Saturday, June 19th. Finally, Investec raised Renalytix AI from a “hold” rating to a “buy” rating in a research report on Thursday, April 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Renalytix AI has a consensus rating of “Buy” and a consensus price target of $30.00.

The business’s fifty day simple moving average is $30.76.

Renalytix AI (NASDAQ:RNLX) last posted its quarterly earnings data on Tuesday, June 15th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $0.62 million during the quarter, compared to analysts’ expectations of $0.61 million. As a group, sell-side analysts predict that Renalytix AI plc will post -0.59 EPS for the current fiscal year.

Several large investors have recently modified their holdings of RNLX. Advisory Services Network LLC bought a new position in Renalytix AI during the 1st quarter valued at $255,000. Scholtz & Company LLC increased its holdings in Renalytix AI by 431.5% in the first quarter. Scholtz & Company LLC now owns 85,045 shares of the company’s stock valued at $2,182,000 after buying an additional 69,045 shares during the last quarter. Fred Alger Management LLC acquired a new stake in Renalytix AI during the first quarter valued at approximately $8,672,000. Gilder Gagnon Howe & Co. LLC lifted its holdings in Renalytix AI by 18.4% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 3,021,317 shares of the company’s stock worth $77,527,000 after buying an additional 470,577 shares during the last quarter. Finally, Atom Investors LP acquired a new stake in shares of Renalytix AI during the 1st quarter valued at approximately $470,000. Institutional investors and hedge funds own 16.48% of the company’s stock.

About Renalytix AI (NASDAQ:RNLX)

Renalytix AI plc develops artificial intelligence-enabled in vitro diagnostic solutions for kidney diseases. The company offers KidneyIntelX, a diagnostic platform that employs an artificial intelligence-enabled algorithm that combines various data inputs, including validated blood-based biomarkers, inherited genetics and personalized patient data from electronic health record, and systems to generate a unique patient risk score.

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