RenovoRx (NASDAQ:RNXT) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

RenovoRx (NASDAQ:RNXT) released its earnings results on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01), reports. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.17 million.

RenovoRx Stock Up 1.0 %

Shares of RNXT stock traded up $0.01 during mid-day trading on Wednesday, reaching $0.97. 10,513 shares of the stock traded hands, compared to its average volume of 70,517. The company has a market cap of $23.28 million, a price-to-earnings ratio of -1.70 and a beta of 1.15. The stock’s fifty day simple moving average is $1.10 and its two-hundred day simple moving average is $1.15. RenovoRx has a 1-year low of $0.77 and a 1-year high of $1.69.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RNXT shares. Ascendiant Capital Markets lifted their price target on shares of RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. HC Wainwright assumed coverage on shares of RenovoRx in a research report on Thursday, March 27th. They issued a “buy” rating and a $3.00 target price on the 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.