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Renalytix Ai Plc ADR Down 43.58% To $2.24 After Earnings Miss

Thursday, June 30, 2022 11:43 AM | InvestorsObserver Analysts
Renalytix Ai Plc ADR Down 43.58% To $2.24 After Earnings Miss

Renalytix Ai Plc ADR (RNLX) said before open Thursday that it lost $0.2 per share in quarter three 2022.

On the revenue line, the company reported $812 thousand, beating estimates by $112 thousand.

In the same quarter a year ago, the company lost $0.12 per share on revenue of $619 thousand.

The stock is down 43.58% to $2.24 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Renalytix Ai Plc ADR has performed a little below average during the past few months. Before the report, Renalytix Ai Plc ADR received a Long-Term Technical Rank by InvestorsObserver of 27, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $3.47 on May 26, 2022 and set a 52-week high on July 28, 2021 at $34.98.

Renalytix PLC is a developer of artificial intelligence-enabled clinical in vitro diagnostic solutions for kidney disease, one of the most common and costly chronic medical conditions globally. The company's lead product is KidneyIntelX which is being designed to make improvements in kidney disease prognosis, transplant management, clinical care, patient stratification for drug clinical trials, and drug target discovery.

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