RenovoRX chief medical officer buys $29,399 in common stock

In a recent transaction, Ramtin Agah, the Chief Medical (TASE:BLWV) Officer and Director of RenovoRx , Inc. (NASDAQ:RNXT), purchased 21,000 shares of the company’s common stock. The shares were acquired at a weighted average price of $1.40 per share, amounting to a total transaction value of $29,399. Following this purchase, Agah’s total direct ownership in RenovoRx stands at 734,460 shares. The insider purchase comes as the stock, with a market capitalization of $51 million, has shown strong momentum, gaining over 36% in the past year. According to InvestingPro analysis, the stock is currently trading in overbought territory, while analyst price targets range from $3 to $11.50, suggesting significant potential upside.

The transaction was executed on June 5, 2025, as reflected in a Form 4 filing with the Securities and Exchange Commission. According to the filing, these shares were acquired through open market purchases. For deeper insights into RNXT’s valuation and 10+ additional real-time ProTips, consider exploring the comprehensive research available on InvestingPro.

In other recent news, RenovoRx reported its financial results for the first quarter of 2025, with revenue exceeding internal expectations, reaching $200,000 from sales of its Renovocath device. Despite increased expenses in research and development, which rose to $1.7 million, the company remains optimistic about future growth driven by ongoing clinical trials and strategic initiatives. Ascendiant Capital analysts have raised the price target for RenovoRx stock to $11.50, maintaining a Buy rating, indicating confidence in the company’s potential growth. The analysts’ decision was based on a net present value analysis, highlighting the stock’s potential for significant returns despite inherent risks.

RenovoRx is actively pursuing growth through its Transarterial Microperfusion (TAMP) therapy platform and is engaged in a Phase III clinical trial for its TIGRPAC project. The company has also announced the initiation of enrollment by Johns Hopkins Medicine in its ongoing Phase III TIGRPAC trial, adding to its network of clinical cancer sites. RenovoRx’s CEO, Sean Bagay, emphasized the strong demand for Renovocath, with more than 10 medical institutions initiating purchase orders. The company anticipates continued revenue growth and plans to expand its market presence, exploring both direct commercialization and strategic partnerships.

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