Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Up 55.8% in January

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totaling 475,269 shares, a growth of 55.8% from the December 31st total of 305,070 shares. Based on an average daily volume of 388,480 shares, the days-to-cover ratio is presently 1.2 days. Currently, 4.5% of the shares of the stock are sold short. Currently, 4.5% of the shares of the stock are sold short. Based on an average daily volume of 388,480 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of Phio Pharmaceuticals

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC lifted its position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the 2nd quarter, according to its most recent disclosure 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 quarter. Geode Capital Management LLC owned about 1.20% of Phio Pharmaceuticals worth $136,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 57.31% of the company’s stock.

Phio Pharmaceuticals Price Performance

Phio Pharmaceuticals stock traded down $0.01 during trading hours on Friday, reaching $1.01. The stock had a trading volume of 238,457 shares, compared to its average volume of 344,738. The company has a fifty day simple moving average of $1.13 and a 200-day simple moving average of $1.76. Phio Pharmaceuticals has a 52 week low of $0.97 and a 52 week high of $4.19. The stock has a market cap of $10.87 million, a PE ratio of -0.47 and a beta of 0.94.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. 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, the stock has an average rating of “Hold” and a consensus target price of $14.00.

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.