Pentwater Capital Management LP recently announced the acquisition of new stake in Renalytix Plc (NASDAQ:RNLX). The institutional investor has increased its shareholding in the Healthcare company by 186.73% to 0.72 million shares with purchase of 0.47 million shares. This fresh investment now brings its stake to 1.91% valued currently at $1.34 million. In addition, Pinnacle Associates Ltd. raised its holdings by 0.11 million to 0.45 million shares. And Fred Alger Management LLC has lifted its position by 0.02% or 61.0 shares – to 0.31 million shares.
With over 98086.0 Renalytix Plc (RNLX) shares trading Tuesday and a closing price of $2.94 on the day, the dollar volume was approximately $0.29 million. The shares have shown a positive half year performance of 19.51% and its price on 01/24/23 gained nearly 6.91%. Currently, there are 37.40M common shares owned by the public and among those 21.96M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for RNLX have a consensus price objective of $6.07. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $3.94. The average price target is 51.0% above its recent price level and an upside to the estimated low will see the stock gain 25.38% over that period. But an upside of 63.25% will see the stock hit the forecast high price target while median target price for the stock is $6.61.
The top 3 mutual fund holders in Renalytix Plc are Alger Funds – Small Cap Growth Fu, Leadersel – Innotech ESG, and Alger Institutional Funds – Small. Alger Funds – Small Cap Growth Fu owns 0.17 million shares of the company’s stock, all valued at over $0.31 million. Leadersel – Innotech ESG bought 40000.0 shares to see its total holdings expand to 100000.0 shares valued at over $0.19 million and representing 0.27% of the shares outstanding. Alger Institutional Funds – Small now owns shares totaling to 0.19% of the shares outstanding.
Shares of Renalytix Plc (NASDAQ: RNLX) opened at $2.78, up $0.03 from a prior closing price of $2.75. However, the script later moved the day high at 3.0499, up 6.91%. The company’s stock has a 5-day price change of 14.84% and 161.33% over the past three months. RNLX shares are trading 57.22% year to date (YTD), with the 12-month market performance down to -79.10% lower. It has a 12-month low price of $1.05 and touched a high of $14.20 over the same period. RNLX has an average intraday trading volume of 90.45K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 28.66%, 53.27%, and 7.65% respectively.
Institutional ownership of Renalytix Plc (NASDAQ: RNLX) shares accounts for 13.10% of the company’s 37.40M shares outstanding. Mutual fund holders own 1.40%, while other institutional holders and individual stakeholders account for 10.77% and — respectively.
It has a market capitalization of $99.93M. The earnings-per-share (ttm) stands at -$1.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.05% over the week and 12.81% over the month.
Analysts forecast that Renalytix Plc (RNLX) will achieve an EPS of -$0.19 for the current quarter, -$0.15 for the next quarter and -$0.67 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.19 while analysts give the company a high EPS estimate of -$0.19. Earnings per share for the fiscal year are expected to decrease by -27.90%, and 5.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Renalytix Plc (RNLX) as a “Strong Buy” at a consensus score of 1.30. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RNLX, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on January 18, 2022, with the firm’s price target at $30. BTIG Research coverage for the Renalytix Plc (RNLX) stock in a research note released on January 04, 2022 offered a Buy rating with a price target of $24. Guggenheim was of a view on October 04, 2021 that the stock is Buy, while Berenberg gave the stock Buy rating on July 02, 2021, issuing a price target of $38. Stifel on their part issued Buy rating on August 11, 2020.
