Phio Pharmaceuticals (NASDAQ:PHIO) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Phio Pharmaceuticals (NASDAQ:PHIO) issued its earnings results on Thursday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.19, FiscalAI reports.

Phio Pharmaceuticals Stock Performance

Shares of PHIO stock traded down $0.01 during trading on Friday, hitting $1.16. 326,844 shares of the company were exchanged, compared to its average volume of 10,972,546. The business’s 50-day simple moving average is $1.11 and its 200 day simple moving average is $1.55. Phio Pharmaceuticals has a twelve month low of $0.81 and a twelve month high of $4.19. The firm has a market capitalization of $12.48 million, a price-to-earnings ratio of -0.80 and a beta of 0.90.

Institutional Investors Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Cetera Investment Advisers raised its stake in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,500 shares of the company’s stock after buying an additional 9,000 shares during the period. Cetera Investment Advisers owned about 0.39% of Phio Pharmaceuticals worth $45,000 as of its most recent SEC filing. 57.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Thursday, January 22nd. 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 research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.