StockWireNews

Breakout Surge Continues: Low Float (RNXT) Is Now Up Approx. 19% (New H.O.D.)

December 28th

Greetings Readers,

RNXT continues humming this morning. I'll keep this brief.

It's now up approximately 19% after hitting a new high of day of $1.29.

And here's the cool part... A potential squeeze scenario could be developing.

RNXT has moved above 2 key technical lines in its 50-Day Simple Moving Average (SMA) and its 13-Day Exponential Moving Average (EMA) over the last week.

With a 200-Day SMA above $1.80, there may still be a ton of vertical chart room to run before running into any more serious resistance.

If that 200-Day SMA was to be challenged and broken down near term, it could draw some serious breakout buzz to RNXT.

That's not to say any vertical move is certain, but today's hot start and RNXT's recent chart momentum need to be noted.

Time's ticking today. Get RNXT on your screen quickly.

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Hit the rewind button for a second...

It's Friday, December 22nd, and the holiday is still days away.

The opening bell is fast approaching and a game-changing Nasdaq, low float profile is the focus of our attention.

Boom. Just like that, the opening bell dings and it's off to the races with a $1.00+ run!

Surging from an open of $3.35, my latest breakout idea erupted to a high of $4.67 on the day.

Intraday? That's a mind-blowing move of approximately 39%!

But now to the main event...

Right now this Nasdaq profile has at least 3 explosive potential catalysts to take note of right now.

First... This is a low float idea.

With fewer than 10Mn shares in its float, volatility could take hold at the drop of a hat just like my last breakout alert.

Next... Chart positioning suggests a potential squeeze could be nearing. Pushing across two key technical lines recently, the conquering of a third could draw major buzz.

Finally... Major 2023 company developments. With a ton of big news, including several announcements in December, this company could be poised to catch Wall Street's attention in 2024.

Oh yeah! And this:

How about TipRanks reporting an average price target of $7.00 pointing to an upside potential well over 450% from Wednesday's open?

Drop what you're doing to pull up:

*RenovoRx, Inc. (RNXT)*

RenovoRx is a clinical-stage biopharmaceutical company developing proprietary targeted combination therapies for high unmet medical need with a goal to improve therapeutic outcomes for cancer patients undergoing treatment.

The Company’s proprietary Trans-Arterial Micro-Perfusion (TAMPTM) therapy platform is designed to ensure precise therapeutic delivery to directly target the tumor while potentially minimizing a therapy’s toxicities versus systemic (intravenous (IV) therapy).

And right now, RNXT has multiple potential catalysts that could spark a near term breakout:

No. 1 - Low Float Could Provide Significant Volatility Potential On Daily Basis

No. 2 - A Mouth-Watering $7.00 Average Analyst Target Suggests Over 550% Potential Upside

No. 3 - Key Chart Positioning May Be Signaling A Potential Squeeze Nearing On The Horizon

No. 4 - A December To Remember... Huge News Marks The Way For RNXT

But more on those in a second...

RNXT: Addressing a Significant Problem in Cancer Treatment

Hypervascular tumors are adequately treated with current therapies

Liver tumors are highly vascularized

• Large tumor feeders – excellent targets for systemic therapy
• Can be accessed and treated with current local therapy techniques

Hypovascular tumors = major barrier to chemotherapy treatment success

Pancreatic tumors have poor blood supply

• No visible tumor feeder vessels
• Systemic chemotherapy does not reach tumor tissue
• Inability to identify or engage tumor feeder vessels: local therapy is ineffective

RNXT Solution: Trans-Arterial Micro-Perfusion (RenovoTAMP)

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.

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RenovoRx’s lead product candidate, RenovoGemTM, is a combination of gemcitabine and its patented delivery system, RenovoCath®, and is regulated by the FDA.

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).

Grab sources and more here: Company Presentation. Company Website.

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And as I mentioned above, RNXT has several potential catalysts to focus on immediately. Here's what's most pressing:

No. 1: RNXT is a low float profile.

With a float of approximately 8.88Mn shares according to Yahoo Finance, volatility needs to be a top priority for this alert.

When a profile has a float this small, there are so few shares available that other potential catalysts, like company news (whether good or bad), can create an environment for explosive movements in the blink of an eye.

Could RNXT round out 2023 with a major announcement putting them on Wall Street's radar heading into the new year?

No. 2: RNXT has an average analyst target suggesting huge upside potential.

Just after 2:00PM EST Wednesday, RNXT was trading at just below $1.00 per share.

As TipRanks points out, RNXT currently has at least 2 analysts with a combined target of $7.00.

Do the math...

That's over 600% potential upside from 2:00PM EST Wednesday!

No. 3: RNXT recently pushed above 2 key technical lines (potential squeeze watch).

Take a look at RNXT's chart:

Here's RNXT's 6-month chart from just after 2:00PM EST today.

As you can see, even after a slight pullback during today's session, two key lines of potential support haven't been broached (RNXT's 50-Day Simple Moving Average (SMA) and its 13-Day Exponential Moving Average (EMA)).

This could be huge as a potential squeeze could be nearing in the immediate future as RNXT's 200-Day SMA continues to fall.

It'll be critical to watch these lines closely.

No. 4: December has seen RNXT make several headline-worthy announcements.

The company has been making waves with a handful of must-see news releases. Take a peek:

12/13/23 - RenovoRx Files New International Patent for Novel Targeted Combination Drug-Delivery Oncology Therapy Platform

12/19/23 - RenovoRx Announces Clinical Data Abstract at the 2024 Society of Interventional Radiology Annual Scientific Meeting

12/21/23 - RenovoRx Engages Oklahoma University (OU) Health as First Clinical Site in Preparation for the Pivotal Phase III CouGar Clinical Trial in Bile Duct Cancer

With 2024 right around the corner, could RNXT be preparing for this next major announcement?

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Recap: 4 Important Reasons To Start Tracking RNXT Now

No. 1 - Low Float Could Provide Significant Volatility Potential On Daily Basis

No. 2 - A Mouth-Watering $7.00 Average Analyst Target Suggests Over 550% Potential Upside

No. 3 - Key Chart Positioning May Be Signaling A Potential Squeeze Nearing On The Horizon

No. 4 - A December To Remember... Huge News Marks The Way For RNXT

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Coverage is officially initiated on RenovoRx, Inc. (RNXT).

Get this Nasdaq low float idea on radar before it's too late! I'll be in touch with updates along the way.

Talk soon.

Sincerely,

Kai Parker

StockWireNews

(Always Remember The St-ock Prices Could Be Significantly Lower Now From The Dates I Provided.)