Phio Pharmaceuticals (NASDAQ:PHIO) Issues Earnings Results

Phio Pharmaceuticals (NASDAQ:PHIO) posted its earnings results on Thursday. The company reported ($0.36) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.36), FiscalAI reports.

Phio Pharmaceuticals Stock Down 8.0%

Shares of NASDAQ:PHIO traded down $0.07 during trading on Thursday, reaching $0.80. The stock had a trading volume of 115,968 shares, compared to its average volume of 63,541. Phio Pharmaceuticals has a 52 week low of $0.80 and a 52 week high of $1.88. The firm has a market capitalization of $9.30 million, a price-to-earnings ratio of -0.62 and a beta of 0.93. The stock has a fifty day simple moving average of $0.98 and a two-hundred day simple moving average of $1.08.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PHIO shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research note on Thursday, October 15th. HC Wainwright reissued a “buy” rating on shares of Phio Pharmaceuticals in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Phio Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $14.00.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a biotechnology company focused on developing cancer immunotherapies. The company’s programs are designed to enhance the immune system’s ability to recognize and destroy tumor cells, with an emphasis on treatments that may be administered directly to the tumor or used in combination with other therapies.

Phio’s research is based on its INTASYL self-delivering RNA interference (RNAi) technology. The platform is intended to selectively silence genes involved in immune suppression and cancer progression without requiring a separate delivery vehicle.