Short Interest in RenovoRx, Inc. (NASDAQ:RNXT) Decreases By 17.3%

RenovoRx, Inc. (NASDAQ:RNXT) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 73,200 shares, a decrease of 17.3% from the November 30th total of 88,500 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 58,900 shares, the short-interest ratio is presently 1.2 days.

Institutional Investors Weigh In On RenovoRx

A hedge fund recently raised its stake in RenovoRx stock. Geode Capital Management LLC increased its position in shares of RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,937 shares of the company’s stock after acquiring an additional 89,018 shares during the period. Geode Capital Management LLC owned about 0.97% of RenovoRx worth $247,000 as of its most recent filing with the Securities and Exchange Commission. 3.10% of the stock is owned by institutional investors.

RenovoRx Stock Up 0.8 %

Shares of RNXT traded up $0.01 during trading hours on Monday, hitting $1.31. 59,323 shares of the company were exchanged, compared to its average volume of 50,394. RenovoRx has a fifty-two week low of $0.77 and a fifty-two week high of $2.12. The company has a market cap of $31.44 million, a price-to-earnings ratio of -2.30 and a beta of 1.11. The firm’s fifty day moving average is $1.17 and its 200 day moving average is $1.13.

Analysts Set New Price Targets

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.

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.