RenovoRx, Inc. (NASDAQ:RNXT) Position Reduced by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC reduced its stake in shares of RenovoRx, Inc. (NASDAQ:RNXT) by 37.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,250 shares of the company’s stock after selling 117,942 shares during the period. ADAR1 Capital Management LLC’s holdings in RenovoRx were worth $254,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC grew its stake in RenovoRx by 61.9% in the third quarter. Geode Capital Management LLC now owns 232,937 shares of the company’s stock worth $247,000 after purchasing an additional 89,018 shares in the last quarter. Hedge funds and other institutional investors own 3.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RNXT. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of RenovoRx in a report on Friday. Ascendiant Capital Markets lifted their target price on RenovoRx from $8.25 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

RenovoRx Price Performance

RNXT stock opened at $0.79 on Tuesday. The firm has a market cap of $18.96 million, a price-to-earnings ratio of -1.39 and a beta of 1.12. RenovoRx, Inc. has a 1-year low of $0.75 and a 1-year high of $1.69. The firm has a fifty day moving average price of $1.06 and a two-hundred day moving average price of $1.14.

RenovoRx (NASDAQ:RNXT) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.17 million. As a group, analysts expect that RenovoRx, Inc. will post -0.4 EPS for the current fiscal year.

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.