HC Wainwright Weighs in on RenovoRx FY2024 Earnings

RenovoRx, Inc. (NASDAQ:RNXT) – Stock analysts at HC Wainwright issued their FY2024 EPS estimates for shares of RenovoRx in a report issued on Thursday, March 27th. HC Wainwright analyst S. Ramakanth forecasts that the company will post earnings per share of ($0.41) for the year. HC Wainwright currently has a “Buy” rating and a $3.00 target price on the stock. The consensus estimate for RenovoRx’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for RenovoRx’s Q4 2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.32) EPS, FY2026 earnings at ($0.25) EPS, FY2027 earnings at $0.08 EPS, FY2028 earnings at $0.26 EPS and FY2029 earnings at $0.38 EPS.

Separately, Ascendiant Capital Markets boosted their price target on RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

RenovoRx Price Performance

RNXT opened at $0.96 on Monday. RenovoRx has a 1 year low of $0.77 and a 1 year high of $1.69. The company has a market capitalization of $23.04 million, a PE ratio of -1.68 and a beta of 1.15. The business has a fifty day simple moving average of $1.10 and a 200 day simple moving average of $1.15.

Institutional Trading of RenovoRx

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of RenovoRx by 61.9% in the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after buying an additional 89,018 shares during the period. Renaissance Technologies LLC bought a new stake in RenovoRx during the 4th quarter worth approximately $84,000. Finally, Citadel Advisors LLC acquired a new position in RenovoRx in the 4th quarter valued at approximately $49,000. 3.10% of the stock is owned by institutional investors and hedge funds.

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.