RenovoRx (NASDAQ:RNXT) Shares Up 5.1%

Shares of RenovoRx, Inc. (NASDAQ:RNXT) traded up 5.1% during mid-day trading on Monday . The company traded as high as $1.28 and last traded at $1.23. 4,335 shares were traded during trading, a decline of 93% from the average session volume of 60,210 shares. The stock had previously closed at $1.17.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on RenovoRx in a research report on Friday, February 2nd. They issued a “buy” rating and a $4.00 price objective on the stock.

RenovoRx Stock Performance

The firm has a market cap of $20.75 million, a price-to-earnings ratio of -1.22 and a beta of 1.04. The stock has a 50-day moving average of $1.40 and a 200-day moving average of $1.20.

Institutional Trading of RenovoRx

An institutional investor recently bought a new position in RenovoRx stock. Nixon Peabody Trust Co. acquired a new position in shares of RenovoRx, Inc. (NASDAQ:RNXT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned 0.91% of RenovoRx as of its most recent SEC filing. Hedge funds and other institutional investors own 3.10% of the company’s stock.

RenovoRx Company Profile

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for the treatment of solid tumors. Its lead product candidate is RenovoGem, a drug and device combination consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.