Short Interest in RenovoRx, Inc. (NASDAQ:RNXT) Declines By 21.8%

by · The Cerbat Gem

RenovoRx, Inc. (NASDAQ:RNXT – Get Free Report) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 71,900 shares, a decrease of 21.8% from the October 15th total of 91,900 shares. Based on an average daily trading volume, of 33,000 shares, the short-interest ratio is presently 2.2 days. Currently, 0.3% of the shares of the stock are sold short.

RenovoRx Stock Performance

RNXT remained flat at $1.09 during trading on Friday. The company had a trading volume of 12,838 shares, compared to its average volume of 43,926. RenovoRx has a 52-week low of $0.53 and a 52-week high of $2.35. The firm’s fifty day moving average price is $1.03 and its 200-day moving average price is $1.13. The stock has a market cap of $26.15 million, a PE ratio of -1.91 and a beta of 0.99.

RenovoRx (NASDAQ:RNXT – Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.10) EPS for the quarter. On average, equities research analysts expect that RenovoRx will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets boosted their target price on shares of RenovoRx from $8.00 to $8.25 and gave the stock a “buy” rating in a report on Thursday, September 12th.

Read Our Latest Stock Report on RenovoRx

RenovoRx Company Profile

(Get Free Report)

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.

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