Renalytix AI plc (NASDAQ:RNLX) Receives Average Analyst “Buy” Recommendation

Shares of Renalytix AI plc (NASDAQ:RNLX) received a consensus “buy” recommendation from the six brokerages that currently cover the company, MarketBeat Ratings reports. One equity research analyst gave the stock a hold rating and five gave the company a buy rating. The 12-month average target price among brokers who have hedged the stock over the past year is $30.00.

RNLX has been the subject of several research analyst reports. HC Wainwright threw coverage on Renalytix AI in a research note on Tuesday, January 18. They set a “buy” rating and a price target of $30.00 for the company. BTIG Research began coverage of Renalytix AI in a research note on Tuesday, January 4. They set a “buy” rating and a price target of $24.00 for the company.

Institutional investors and hedge funds have recently increased or reduced their stake in the company. Advisor Group Holdings Inc. increased its holdings of Renalytix AI shares by 201.6% in the third quarter. Advisor Group Holdings Inc. now owns 5,532 shares of the company worth $111,000 after purchasing 3,698 additional shares during the period. Morgan Stanley increased its holdings of Renalytix AI shares by 278.7% in the second quarter. Morgan Stanley now owns 7,093 shares of the company worth $219,000 after purchasing an additional 5,220 shares during the period. M&T Bank Corp bought a new stock position in Renalytix AI in the second quarter for a value of around $223,000. Envestnet Asset Management Inc. bought a new stock position in Renalytix AI in the fourth quarter for a value of approximately $224,000. Finally, Renaissance Technologies LLC bought a new position in Renalytix AI during Q2, valued at approximately $253,000. Hedge funds and other institutional investors hold 16.78% of the company’s shares.

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NASDAQ:RNLX opened at $10.99 on Friday. The company has a market capitalization of $397.33 million, a price-earnings ratio of -23.89 and a beta of 1.18. Renalytix AI has a 52-week low of $10.61 and a 52-week high of $35.71. The stock has a fifty-day moving average of $14.37 and a 200-day moving average of $20.37.

Renalytix AI (NASDAQ:RNLX) last released its quarterly earnings data on Tuesday, December 7. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting Thomson Reuters consensus estimate of ($0.14). The company posted revenue of $0.48 million in the quarter, versus analyst estimates of $2.25 million. Renalytix AI had a negative return on equity of 45.44% and a negative net margin of 1,717.89%. On average, equity analysts predict that Renalytix AI will post -0.63 earnings per share for the current year.

About Renalytix AI

Renalytix AI plc develops artificial intelligence-based in vitro diagnostic solutions for kidney disease. The Company offers KidneyIntelX, a diagnostic platform that uses an artificial intelligence-based algorithm that combines various data inputs, including validated blood biomarkers, inherited genetic data, and personalized patient data from the electronic health record , and systems for generating a unique patient risk score.

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Analyst Recommendations for Renalytix AI (NASDAQ: RNLX)

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