Phio Pharmaceuticals (NASDAQ:PHIO) Earns Buy Rating from HC Wainwright

Phio Pharmaceuticals (NASDAQ:PHIO)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $14.00 price objective on the stock.

PHIO has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Thursday, January 22nd. Wall Street Zen cut Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Phio Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $14.00.

Phio Pharmaceuticals Stock Performance

Shares of NASDAQ:PHIO traded up $0.40 on Tuesday, hitting $1.30. The company’s stock had a trading volume of 145,513,914 shares, compared to its average volume of 5,661,534. The company has a market capitalization of $13.93 million, a price-to-earnings ratio of -0.60 and a beta of 0.94. The stock’s 50-day moving average is $1.09 and its two-hundred day moving average is $1.69. Phio Pharmaceuticals has a 12 month low of $0.81 and a 12 month high of $4.19.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.01. Equities analysts expect that Phio Pharmaceuticals will post -8.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC boosted its position in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 60.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,638 shares of the company’s stock after purchasing an additional 34,732 shares during the quarter. Geode Capital Management LLC owned approximately 0.86% of Phio Pharmaceuticals worth $97,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 57.31% of the company’s stock.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals, Inc (NASDAQ: PHIO) is a clinical‐stage biotechnology company focused on the discovery and development of dual RNA interference (RNAi) therapeutics. Utilizing its proprietary Transitional RNAi (TRiMTM) platform, Phio aims to simultaneously silence multiple gene targets to achieve enhanced therapeutic activity. The company’s core mission is to advance next‐generation RNAi compounds with potential applications in oncology and immuno‐oncology.

Phio’s TRiMTM platform is designed around the delivery of synthetic, double‐stranded RNA duplexes that can be engineered to target specific combinations of genes implicated in tumor growth and immune evasion.