Renalytix (NASDAQ:RNLX) Shares Up 5.7% – Here’s Why

Renalytix Plc (NASDAQ:RNLX)’s share price shot up 5.7% during trading on Wednesday . The stock traded as high as $0.23 and last traded at $0.21. 934,400 shares were traded during mid-day trading, a decline of 36% from the average session volume of 1,451,440 shares. The stock had previously closed at $0.20.

Analyst Upgrades and Downgrades

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

Renalytix Stock Up 5.7 %

The firm has a market cap of $17.18 million, a price-to-earnings ratio of -0.53 and a beta of 2.72. The business’s 50-day simple moving average is $0.28 and its two-hundred day simple moving average is $0.43.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Renalytix stock. Levin Capital Strategies L.P. acquired a new position in shares of Renalytix Plc (NASDAQ:RNLX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 555,000 shares of the company’s stock, valued at approximately $128,000. Levin Capital Strategies L.P. owned 0.72% of Renalytix as of its most recent filing with the Securities & Exchange Commission. 9.92% of the stock is currently 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.