RenovoRx, Inc. (NASDAQ:RNXT) Short Interest Up 57.8% in December

RenovoRx, Inc. (NASDAQ:RNXT) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 115,500 shares, an increase of 57.8% from the December 15th total of 73,200 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average trading volume of 62,100 shares, the days-to-cover ratio is currently 1.9 days.

RenovoRx Stock Up 6.4 %

RNXT traded up $0.09 on Friday, hitting $1.50. The company’s stock had a trading volume of 352,481 shares, compared to its average volume of 128,789. The company’s 50 day simple moving average is $1.28 and its 200-day simple moving average is $1.15. RenovoRx has a 12 month low of $0.77 and a 12 month high of $1.86. The firm has a market cap of $36 million, a P/E ratio of -2.63 and a beta of 1.09.

Hedge Funds Weigh In On RenovoRx

A hedge fund recently raised its stake in RenovoRx stock. Geode Capital Management LLC boosted its stake in RenovoRx, Inc. (NASDAQ:RNXT) by 61.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 232,937 shares of the company’s stock after purchasing an additional 89,018 shares during the quarter. Geode Capital Management LLC owned approximately 0.97% of RenovoRx worth $247,000 as of its most recent filing with the Securities & Exchange Commission. 3.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets upped their price objective on shares of RenovoRx from $8.25 to $9.00 and gave the company a “buy” rating in a report on Tuesday, December 10th.

RenovoRx Company Profile

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.