Phio Pharmaceuticals (NASDAQ:PHIO) Stock Falls 8% – Time to Sell?

Phio Pharmaceuticals Corp. (NASDAQ:PHIO)’s stock price dropped 8% during trading on Thursday. The stock traded as low as $0.7990 and last traded at $0.80. Approximately 115,968 shares traded hands during mid-day trading, an increase of 83% from the average session volume of 63,541 shares. The stock had previously closed at $0.8699.

Wall Street Analysts Forecast Growth

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

Phio Pharmaceuticals Price Performance

The stock has a market capitalization of $9.31 million, a price-to-earnings ratio of -0.66 and a beta of 0.93. The stock has a 50 day moving average price of $0.97 and a 200-day moving average price of $1.08.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its earnings results on Thursday, November 5th. The company reported ($0.36) earnings per share for the quarter, hitting the consensus estimate of ($0.36). As a group, research analysts forecast that Phio Pharmaceuticals Corp. will post -1.45 earnings per share for the current year.

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.