Renalytix Plc to Post Q3 2023 Earnings of ($0.12) Per Share, HC Wainwright Forecasts (NASDAQ:RNLX)

Posted by Defense World Staff on Apr 6th, 2023

Renalytix Plc (NASDAQ:RNLX – Get Rating) – Equities research analysts at HC Wainwright raised their Q3 2023 earnings per share (EPS) estimates for shares of Renalytix in a note issued to investors on Monday, April 3rd. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings per share of ($0.12) for the quarter, up from their previous forecast of ($0.15). HC Wainwright has a “Buy” rating and a $5.00 price target on the stock. The consensus estimate for Renalytix’s current full-year earnings is ($0.59) per share. HC Wainwright also issued estimates for Renalytix’s Q4 2023 earnings at ($0.11) EPS, FY2023 earnings at ($0.52) EPS, Q1 2024 earnings at ($0.11) EPS, Q2 2024 earnings at ($0.10) EPS, Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.09) EPS and FY2024 earnings at ($0.39) EPS.

Renalytix (NASDAQ:RNLX – Get Rating) last posted its quarterly earnings data on Thursday, March 30th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. Renalytix had a negative return on equity of 239.26% and a negative net margin of 1,411.70%. The firm had revenue of $1.19 million during the quarter, compared to analyst estimates of $1.33 million.

Separately, BTIG Research reduced their target price on Renalytix from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Monday.

Renalytix Stock Performance

RNLX stock opened at $2.38 on Wednesday. The stock has a 50-day moving average price of $2.83 and a 200-day moving average price of $2.11. Renalytix has a 1-year low of $1.05 and a 1-year high of $7.15. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.84. The firm has a market cap of $111.60 million, a PE ratio of -3.31 and a beta of 2.49.

Hedge Funds Weigh In On Renalytix

A number of hedge funds have recently added to or reduced their stakes in RNLX. Pentwater Capital Management LP boosted its stake in shares of Renalytix by 186.7% in the 3rd quarter. Pentwater Capital Management LP now owns 716,824 shares of the company’s stock worth $918,000 after buying an additional 466,824 shares during the last quarter. Tejara Capital Ltd purchased a new position in shares of Renalytix in the 4th quarter worth approximately $757,000. CI Private Wealth LLC purchased a new position in shares of Renalytix in the 4th quarter worth approximately $352,000. Renaissance Technologies LLC purchased a new position in shares of Renalytix in the 3rd quarter worth approximately $161,000. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Renalytix by 26.8% in the 4th quarter. Pinnacle Associates Ltd. now owns 574,781 shares of the company’s stock worth $1,075,000 after buying an additional 121,655 shares during the last quarter. Institutional investors and hedge funds own 11.81% of the company’s stock.

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.