Short Interest in RenovoRx, Inc. (NASDAQ:RNXT) Decreases By 49.6%

RenovoRx, Inc. (NASDAQ:RNXT – Get Rating) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 13,000 shares, a decline of 49.6% from the April 30th total of 25,800 shares. Based on an average trading volume of 52,300 shares, the short-interest ratio is presently 0.2 days. Currently, 0.2% of the shares of the company are sold short.

RenovoRx Stock Performance

NASDAQ RNXT traded down $0.02 on Friday, hitting $1.88. 509 shares of the company’s stock traded hands, compared to its average volume of 51,533. RenovoRx has a 1-year low of $1.50 and a 1-year high of $5.75. The firm’s 50-day moving average price is $2.77 and its two-hundred day moving average price is $2.85.

RenovoRx (NASDAQ:RNXT – Get Rating) last posted its earnings results on Thursday, March 2nd. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.03. As a group, analysts predict that RenovoRx will post -1 earnings per share for the current year.

Hedge Funds Weigh In On RenovoRx

Several large investors have recently made changes to their positions in RNXT. Vanguard Group Inc. acquired a new position in shares of RenovoRx in the 1st quarter valued at $32,000. Bank of America Corp DE acquired a new position in RenovoRx during the first quarter worth $44,000. Colony Group LLC acquired a new position in RenovoRx during the third quarter worth $32,000. Affinity Capital Advisors LLC raised its position in RenovoRx by 35.6% during the fourth quarter. Affinity Capital Advisors LLC now owns 15,259 shares of the company’s stock worth $36,000 after acquiring an additional 4,009 shares during the period. Finally, Armistice Capital LLC acquired a new position in RenovoRx during the first quarter worth $3,425,000. 13.56% of the stock is currently owned by institutional investors and hedge funds.

RenovoRx Company Profile

(Get Rating)

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.