Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Update

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the recipient of a large decrease in short interest in February. As of February 27th, there was short interest totaling 528,245 shares, a decrease of 77.4% from the February 12th total of 2,335,588 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average daily volume of 1,123,105 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 1,123,105 shares, the short-interest ratio is currently 0.5 days. Approximately 4.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Phio Pharmaceuticals in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.00.

Phio Pharmaceuticals Trading Up 1.7%

Phio Pharmaceuticals stock traded up $0.02 during mid-day trading on Tuesday, hitting $1.23. The stock had a trading volume of 336,971 shares, compared to its average volume of 4,978,316. Phio Pharmaceuticals has a one year low of $0.81 and a one year high of $4.19. The firm has a market capitalization of $14.29 million, a P/E ratio of -0.85 and a beta of 0.90. The firm’s 50 day moving average is $1.12 and its 200 day moving average is $1.54.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.19. As a group, equities research analysts forecast that Phio Pharmaceuticals will post -8.54 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC grew its position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,694 shares of the company’s stock after purchasing an additional 16,108 shares during the period. Geode Capital Management LLC owned approximately 1.20% of Phio Pharmaceuticals worth $136,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 57.31% of the company’s stock.

About Phio Pharmaceuticals

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.