Renalytix (NASDAQ:RNLX) Trading 5.7% Higher – Still a Buy?

Shares of Renalytix Plc (NASDAQ:RNLX) rose 5.7% during trading on Wednesday . The company traded as high as $0.23 and last traded at $0.21. Approximately 934,400 shares traded hands during trading, a decline of 36% from the average daily volume of 1,451,440 shares. The stock had previously closed at $0.20.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Renalytix in a report on Friday, July 12th.

Renalytix Stock Performance

The firm has a market capitalization of $17.18 million, a price-to-earnings ratio of -0.53 and a beta of 2.72. The business has a fifty day moving average price of $0.29 and a 200 day moving average price of $0.43.

Institutional Trading of Renalytix

A hedge fund recently bought a new stake in Renalytix stock. Levin Capital Strategies L.P. purchased a new position in shares of Renalytix Plc (NASDAQ:RNLX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 555,000 shares of the company’s stock, valued at approximately $128,000. Levin Capital Strategies L.P. owned 0.72% of Renalytix at the end of the most recent quarter. 9.92% of the stock is owned by hedge funds and other institutional investors.

About Renalytix

Renalytix Plc develops artificial intelligence-enabled in vitro diagnostic solutions for kidney diseases. The company offers KidneyIntelX, a diagnostic platform that employs an artificial intelligence-enabled algorithm that combines various data inputs, including validated blood-based biomarkers, inherited genetics, and personalized patient data from electronic health record systems to generate a unique patient risk score.