Advertisement
UK markets open in 6 hours 6 minutes

  • NIKKEI 225

    37,321.61
    -758.09 (-1.99%)
     

  • HANG SENG

    16,385.87
    +134.03 (+0.82%)
     

  • CRUDE OIL

    82.50
    -0.23 (-0.28%)
     

  • GOLD FUTURES

    2,391.60
    -6.40 (-0.27%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • Bitcoin GBP

    50,717.31
    +1,266.53 (+2.56%)
     

  • CMC Crypto 200

    1,306.64
    +421.10 (+47.30%)
     

  • NASDAQ Composite

    15,601.50
    -81.87 (-0.52%)
     

  • UK FTSE All Share

    4,290.02
    +17.00 (+0.40%)
     
Money:

Best mortgage deals of the week

As possibility of multiple interest rate cuts dwindle here's what banks and building societies are offering

Renalytix AI PLC Sponsored ADR (RNLX) Surges 10.4%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

Renalytix AI PLC Sponsored ADR (RNLX) shares soared 10.4% in the last trading session to close at $15.45. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.4% loss over the past four weeks.

The stock scored a strong price increase driven by the optimism surrounding the company’s latest publication of favorable study results for KidneyIntelX in The American Journal of Nephrology. The study results show that risk assessment and monitoring with KidneyIntelX can support primary care physicians and deliver proactive therapeutic management in early-stage diabetic kidney disease. The market is also upbeat about the Renalytix’s recent collaboration with Singing River Health System intended to deploy KidneyIntelX informed care management to enhance kidney health in individuals with type 2 diabetes and early-stage chronic kidney disease.

This company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -50%. Revenues are expected to be $1.55 million, up 287.5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

ADVERTISEMENT

For Renalytix AI PLC Sponsored ADR, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RNLX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Renalytix AI PLC Sponsored ADR (RNLX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.