RenovoRx (NASDAQ:RNXT) Stock Price Up 11.5% – Time to Buy?

RenovoRx, Inc. (NASDAQ:RNXT) traded up 11.5% during trading on Monday . The stock traded as high as $1.09 and last traded at $1.07. 255,980 shares traded hands during mid-day trading, an increase of 274% from the average session volume of 68,459 shares. The stock had previously closed at $0.96.

Wall Street Analyst Weigh In

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

RenovoRx Stock Performance

The firm has a fifty day moving average price of $1.15 and a two-hundred day moving average price of $1.15. The stock has a market capitalization of $24.48 million, a P/E ratio of -1.79 and a beta of 1.15.

Institutional Investors Weigh In On RenovoRx

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of RenovoRx by 61.9% in the 3rd quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock valued at $247,000 after purchasing an additional 89,018 shares during the last quarter. Renaissance Technologies LLC bought a new stake in RenovoRx in the fourth quarter worth about $84,000. Finally, Citadel Advisors LLC bought a new stake in shares of RenovoRx during the fourth quarter worth $49,000. 3.10% of the stock is owned by institutional investors.

RenovoRx Company Profile

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.