RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Update

RenovoRx, Inc. (NASDAQ:RNXT) was the recipient of a large growth in short interest during 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. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 62,100 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in RenovoRx stock. Geode Capital Management LLC increased its stake in RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 232,937 shares of the company’s stock after buying an additional 89,018 shares during the quarter. Geode Capital Management LLC owned 0.97% of RenovoRx worth $247,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.10% of the company’s stock.

RenovoRx Price Performance

Shares of NASDAQ RNXT traded up $0.09 during midday trading on Friday, reaching $1.50. The company’s stock had a trading volume of 352,418 shares, compared to its average volume of 128,783. The stock has a market capitalization of $36 million, a P/E ratio of -2.63 and a beta of 1.09. The firm has a 50 day moving average price of $1.27 and a 200-day moving average price of $1.15. RenovoRx has a 12-month low of $0.77 and a 12-month high of $1.86.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets increased their target price on shares of RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a 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.