Barclays now sees two Fed cuts this year, says jumbo Fed cuts ’very unlikely’
Ronald Kocak, Vice President Controller and PAO at RenovoRx , Inc. (NASDAQ:RNXT), a company with a market capitalization of $30.33 million, recently made significant stock purchases, according to a recent SEC filing. Over three separate transactions on April 8, 9, and 10, Kocak acquired a total of 12,595 shares of RenovoRx common stock. These transactions, conducted at prices ranging from $0.79 to $0.80 per share, amounted to a total value of $10,011. Following these acquisitions, Kocak now holds 12,595 shares directly. The purchases come as the stock trades near its 52-week low of $0.75, having declined 13% in the past week. According to InvestingPro analysis, RenovoRx currently appears undervalued, with the company maintaining a strong balance sheet position, holding more cash than debt. Want deeper insights into insider trading patterns and 12+ additional real-time ProTips? Explore InvestingPro for comprehensive analysis.
In other recent news, RenovoRx reported its first revenue from the RenovoCath device in the fourth quarter of 2024, amounting to approximately $43,000. The company anticipates revenue growth to reach the low six-figure range in the first quarter of 2025, driven by new customer purchase orders and reorders. RenovoRx is advancing with its Phase III TIGeR-PaC clinical trial, with full enrollment expected during 2025 and a second interim analysis anticipated after the 52nd event. H.C. Wainwright maintained a Buy rating on RenovoRx, setting a price target of $3.00 per share. The company recently raised $12.1 million in a public offering, which will support ongoing clinical and commercial activities. RenovoRx's research in targeted drug delivery was recognized at the Society of Interventional Radiology 2025 Annual Scientific Meeting for its innovative TAMP therapy platform. The platform, which significantly increases local tissue concentration of therapy, is being evaluated in the TIGeR-PaC trial for treating locally advanced pancreatic cancer. RenovoRx has also expanded its commercial relationships, receiving initial purchase orders from over ten medical institutions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.