Short Interest in RenovoRx, Inc. (NASDAQ:RNXT) Expands By 24.8%

RenovoRx, Inc. (NASDAQ:RNXT) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 54,900 shares, a growth of 24.8% from the June 30th total of 44,000 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 39,900 shares, the short-interest ratio is currently 1.4 days.

Institutional Trading of RenovoRx

A hedge fund recently bought a new stake in RenovoRx stock. Nixon Peabody Trust Co. purchased a new position in shares of RenovoRx, Inc. (NASDAQ:RNXT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned about 0.91% of RenovoRx at the end of the most recent quarter. Institutional investors own 3.10% of the company’s stock.

RenovoRx Trading Up 4.8 %

NASDAQ:RNXT traded up $0.06 on Friday, hitting $1.29. The company’s stock had a trading volume of 16,317 shares, compared to its average volume of 24,486. The stock has a fifty day moving average of $1.20 and a two-hundred day moving average of $1.30. The firm has a market capitalization of $30.86 million, a P/E ratio of -1.79 and a beta of 1.01. RenovoRx has a one year low of $0.53 and a one year high of $2.35.

RenovoRx (NASDAQ:RNXT) last released its quarterly earnings data on Friday, May 10th. The company reported ($0.07) earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets started coverage on RenovoRx in a report on Monday, June 17th. They set a “buy” rating and a $8.00 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.