Short Interest in RenovoRx, Inc. (NASDAQ:RNXT) Increases By 57.8%

RenovoRx, Inc. (NASDAQ:RNXT) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 115,500 shares, a growth of 57.8% from the December 15th total of 73,200 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 62,100 shares, the days-to-cover ratio is currently 1.9 days.

RenovoRx Trading Up 6.4 %

NASDAQ RNXT traded up $0.09 during trading hours on Friday, hitting $1.50. The company’s stock had a trading volume of 352,481 shares, compared to its average volume of 128,789. The company has a market capitalization of $36 million, a PE ratio of -2.63 and a beta of 1.09. RenovoRx has a 52 week low of $0.77 and a 52 week high of $1.86. The company’s 50-day simple moving average is $1.28 and its two-hundred day simple moving average is $1.15.

Analyst Ratings Changes

Separately, 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 research report on Tuesday, December 10th.

Institutional Trading of RenovoRx

An institutional investor recently raised its position in RenovoRx stock. Geode Capital Management LLC lifted its holdings in RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 232,937 shares of the company’s stock after buying an additional 89,018 shares during the period. Geode Capital Management LLC owned approximately 0.97% of RenovoRx worth $247,000 at the end of the most recent reporting period. Institutional investors own 3.10% of the company’s 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.