Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Shares Shorted: Short Interest Down 40.3% in September

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 89,454 shares, a drop of 40.3% from the September 15th total of 149,890 shares. Based on an average daily trading volume, of 114,595 shares, the short-interest ratio is currently 0.8 days. Approximately 0.8% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

PHIO has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating on shares of Phio Pharmaceuticals in a research note on Wednesday, August 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Phio Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Phio Pharmaceuticals Stock Performance

PHIO opened at $0.95 on Thursday. The firm’s fifty day moving average is $1.05 and its 200 day moving average is $1.09. Phio Pharmaceuticals has a fifty-two week low of $0.81 and a fifty-two week high of $4.19. The stock has a market cap of $11.03 million, a price-to-earnings ratio of -0.74 and a beta of 0.84.

Phio Pharmaceuticals (NASDAQ:PHIO) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.36) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.36). On average, equities research analysts predict that Phio Pharmaceuticals will post -1.45 earnings per share for the current year.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals Corp. is a clinical-stage biotechnology company focused on developing immuno-oncology treatments based on its INTASYL self-delivering RNAi technology. The platform is designed to enable small interfering RNA (siRNA) molecules to enter cells without the use of conventional delivery vehicles and to reduce the expression of selected genes involved in cancer biology and immune-system activity.

The company’s pipeline has included product candidates intended to improve the ability of immune cells to recognize and destroy tumors.