Phio Pharmaceuticals (NASDAQ:PHIO) Trading 2.7% Higher – Time to Buy?

Phio Pharmaceuticals Corp. (NASDAQ:PHIO)’s share price traded up 2.7% during trading on Thursday . The stock traded as high as $1.1450 and last traded at $1.14. 91,630 shares were traded during mid-day trading, a decline of 29% from the average session volume of 128,784 shares. The stock had previously closed at $1.11.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research note on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Phio Pharmaceuticals in a research note on Tuesday, February 10th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Phio Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $14.00.

Phio Pharmaceuticals Stock Down 7.0%

The company has a market cap of $12.32 million, a price-to-earnings ratio of -0.77 and a beta of 0.82. The firm has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $1.16.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.10). On average, equities analysts expect that Phio Pharmaceuticals Corp. will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Phio Pharmaceuticals

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC increased its holdings in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 quarter. 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.