Renalytix (NASDAQ:RNLX) Rating Increased to Hold at Zacks Investment Research

Renalytix (NASDAQ:RNLXGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “Renalytix AI plc is an artificial intelligence-enabled in vitro diagnostics company. It focuses on optimizing clinical management of kidney disease. Renalytix AI plc is based in NEW YORK. “

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Renalytix from $25.00 to $8.00 in a research report on Friday, April 1st. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Renalytix in a report on Friday, April 1st. Finally, BTIG Research cut their target price on shares of Renalytix from $24.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, April 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $23.80.

RNLX stock opened at $4.58 on Friday. The company’s 50 day moving average is $5.19 and its 200 day moving average is $10.35. The stock has a market cap of $171.20 million, a price-to-earnings ratio of -8.33 and a beta of 1.83. Renalytix has a 1-year low of $3.47 and a 1-year high of $34.98.

Renalytix (NASDAQ:RNLXGet Rating) last issued its quarterly earnings results on Thursday, March 31st. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). Renalytix had a negative net margin of 1,667.00% and a negative return on equity of 62.67%. The business had revenue of $0.85 million for the quarter. Equities analysts anticipate that Renalytix will post -0.68 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in RNLX. North Star Investment Management Corp. purchased a new stake in Renalytix in the first quarter worth $35,000. Advisor Group Holdings Inc. lifted its position in Renalytix by 53.3% during the first quarter. Advisor Group Holdings Inc. now owns 11,998 shares of the company’s stock valued at $83,000 after buying an additional 4,170 shares during the period. Private Advisor Group LLC purchased a new position in Renalytix during the first quarter valued at $92,000. Skye Global Management LP purchased a new position in Renalytix during the fourth quarter valued at $105,000. Finally, Envestnet Asset Management Inc. lifted its position in Renalytix by 22.2% during the first quarter. Envestnet Asset Management Inc. now owns 17,235 shares of the company’s stock valued at $119,000 after buying an additional 3,126 shares during the period. 16.13% of the stock is owned by institutional investors.

Renalytix Company Profile (Get Rating)

Renalytix Plc develops artificial intelligence-enabled in vitro diagnostic solutions for kidney diseases. The company offers KidneyIntelX, a diagnostic platform that employs an artificial intelligence-enabled algorithm that combines various data inputs, including validated blood-based biomarkers, inherited genetics and personalized patient data from electronic health record systems to generate a unique patient risk score.

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