RenovoRx (NASDAQ:RNXT) Shares Up 5.1%

RenovoRx, Inc. (NASDAQ:RNXT) shot up 5.1% on Monday . The company traded as high as $1.28 and last traded at $1.23. 4,335 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 60,210 shares. The stock had previously closed at $1.17.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on shares of RenovoRx in a research report on Friday, February 2nd. They set a “buy” rating and a $4.00 target price on the stock.

RenovoRx Stock Performance

The company has a 50-day moving average of $1.39 and a 200-day moving average of $1.20. The stock has a market cap of $20.75 million, a price-to-earnings ratio of -1.22 and a beta of 1.04.

Hedge Funds Weigh In On RenovoRx

A hedge fund recently bought a new stake in RenovoRx stock. Nixon Peabody Trust Co. purchased a new position in shares of RenovoRx, Inc. (NASDAQ:RNXT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 97,165 shares of the company’s stock, valued at approximately $223,000. Nixon Peabody Trust Co. owned 0.91% of RenovoRx as of its most recent SEC filing. 3.10% of the stock is owned by hedge funds and other institutional investors.

About RenovoRx

RenovoRx, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for the treatment of solid tumors. Its lead product candidate is RenovoGem, a drug and device combination consisting of intra-arterial gemcitabine and RenovoCath that is in Phase III clinical trials for the locally advanced pancreatic cancer.