3/6/23 *UPDATE*
Greetings Readers,
It’s Monday and time to hit the ground running. But before we get too far ahead of ourselves, it’s time to focus our attention back on Nasdaq profile (RNXT).
Here’s why…
RNXT was able to post a new 52-week high of $5.70 last week, but more importantly, it was able to close above a key psychological support level at $5.00 Friday.
With that $5.20 session close, RNXT had its highest close in the last 52-week period.
Now this is key. If psychological support grows at the $5.00 level, RNXT could be seeing the building blocks be put into place for it to try and run down its 52-week high from last week.
And when it comes to potential support, the $5.00 level may not be the only line to watch closely this week. RNXT is still maintaining above 3 very key lines of potential support:
- 50-Day Simple Moving Average (SMA)
- 200-Day SMA
- 13-Day Exponential Moving Average
Plus, big news last week: RenovoRx Reports Full Year 2022 Fi-nan-cial Results and Achievement of Important Phase III Clinical Study Milestone
Barchart keeps reporting a total of 13 triggered technicals over at their website.
Time’s ticking to get RNXT back on radar this morning.
Sincerely,
Virtus Junxit
3/3/23 *UPDATE*
Greetings Readers,
RNXT needs to remain on high alert again today. Here’s why.
First off, from Tuesday morning’s opening, RNXT has made a short term max blitz of approximately 36% in the matter of days.
Even after pulling back from a new 52-week high of $5.70 yesterday, RNXT has held strong above 3 of the most important lines of potential support:
- 50-Day Simple Moving Average (SMA)
- 200-Day SMA
- 13-Day Exponential Moving Average
Plus, the company is hot off a big announcement Thursday: RenovoRx Reports Full Year 2022 Fi-nan-cial Results and Achievement of Important Phase III Clinical Study Milestone
Furthermore, Barchart still reports 13 bullish triggered technical indicators including its “Trend Seeker” composite indicator.
These are just a few reasons why RNXT should remain high on your watch-list today. If there are any more updates, I’ll have them out quickly.
Sincerely,
Virtus Junxit
3/2/23 *UPDATE*
Greetings Readers,
Holy heck. Did you see that?
On Wednesday, RNXT continued its recent hot streak to hit a new 52-week high of $5.31.
This could be in part due to the fact this company made this announcement: RenovoRx to Present at the 35th Annual Roth Conference on March 13, 2023
With this good news and green move, RNXT may have built strong potential support above these 3 potential support lines.
At the same time, Barchart keeps reporting 13 triggered technical indicators plus its “Trend Seeker” composite indicator.
Don’t forget. RNXT is a low float idea with fewer than 7Mn shares.
Pull up RNXT once again before today’s opening bell. Talk again shortly.
Sincerely,
Virtus Junxit
Original Report Below
About RenovoRx, Inc. (Nasdaq: RNXT)
RenovoRx is a clinical-stage biopharmaceutical company with a vision to disrupt the current paradigm of cancer treatment. The company’s mission is to lead a revolution in oncology therapy by delivering its innovative and targeted intra-arterial (IA) delivery of chemotherapy directly to solid tumors.
The proprietary RenovoRx Trans-Arterial Micro-Perfusion (RenovoTAMP®) therapy platform aims to avoid the harsh side effects typical of the current standard of care, thus improving patient well-being and extension of life so more time may be enjoyed with loved ones.
RenovoTAMP utilizes approved chemotherapeutics with validated mechanisms of action and well-established safety and side effect profiles, with the goal of increasing their efficacy, improving their safety, and widening their therapeutic window.
RenovoRx’s lead product candidate, RenovoGemTM, is a combination of gemcitabine and its patented delivery system, RenovoCath®, and is regulated by the FDA as a novel oncology drug product to treat unresectable locally advanced pancreatic cancer (LAPC).
RenovoGem is currently being studied in the Phase III TIGeR-PaC trial for the treatment of LAPC.
RenovoRx’s patent portfolio for its therapy platform and product candidates includes eight issued U.S. patents, one issued European patent, and several additional patents pending in the US, EU and Asia.
RenovoRx has been granted Orphan Drug Designation for intra-arterial delivery of gemcitabine for the treatment of both pancreatic cancer and bile duct cancer (cholangiocarcinoma).
RenovoRx, Inc. (Nasdaq: RNXT) Highlights & Pipeline Overview
RenovoRx, Inc. Highlights:
- De-risked drug development and validated RenovoTAMP approach.
- Large first indication market ($1B) and platform broadly applicable to locally advanced solid tumors.
- Capital efficient: <$750k average monthly burn.
- Talented and experienced Leadership Team and Board of Directors.
Upcoming Potential Company Catalysts
RNXT Pipeline Overview
Read more key details and grab sources here (Company Presentation).
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3 Potential Breakout Catalysts To Know Right Now On (RNXT)
#1. This is a low float profile.
Yahoo Finance reports RNXT to have a float of roughly 6.18Mn shares.
That’s extremely low. But what does it mean?
It means that volatility can pop up at the drop of hat. It may just take a little push like positive company news to see volatility rear its head.
And when a profile has a float this low, volatility can lead to quick, explosive moves.
Take for example the morning of December 30th. That day RNXT opened at $1.84. By January 18th, this profile had hit a high of $5.00.
That’s 171% in less than 3 weeks…
Now, I’m not saying RNXT is going to make that same type of surge in March, but the potential needs to be noted.
#2. RNXT has a multitude of bullish, triggered technical indicators this second.
Wow. I mean, wow.
Barchart is reporting RNXT to have the following technical indicators as triggered as of 3:00PM EST Monday. Check them out:
Short Term Indicators
- 20 Day Moving Average
- 20 – 50 Day MACD Oscillator
- 20 – 100 Day MACD Oscillator
- 20 – 200 Day MACD Oscillator
Medium Term Indicators
- 50 Day Moving Average
- 50 – 100 Day MACD Oscillator
- 50 – 150 Day MACD Oscillator
- 50 – 200 Day MACD Oscillator
Long Term Indicators
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
- 100 – 200 Day MACD Oscillator
The website also shares its all-important “Trend Seeker” composite indicator is triggered, too.
You’ll want to keep a close eye on these this week.
#3. A $9.00 analyst target provides over 100+% potential upside.
Check out what TipRanks is reporting:
At the time of writing, that $9.00 target would present potential upside for RNXT in the 150% range.
As I mentioned above, RNXT has already hit the $5.00 market in 2023.
$9.00 may not be so far fetched when you factor in the huge company news early in 2023:
1/5/23: RenovoRx Strengthens Intellectual Property (IP) Portfolio with Eighth US Patent
Coud more positive news early this year help spark RNXT towards that $9.00 target?
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Time’s ticking to get RNXT on your radar. I’ll be in touch again shortly.
Sincerely,
Virtus Junxit
