Phio Pharmaceuticals (NASDAQ:PHIO) Trading Down 2.7% – Here’s What Happened

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) fell 2.7% during mid-day trading on Monday . The company traded as low as $1.0750 and last traded at $1.09. 118,928 shares traded hands during trading, a decline of 69% from the average session volume of 389,273 shares. The stock had previously closed at $1.12.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.00.

Phio Pharmaceuticals Trading Down 0.9%

The company’s fifty day moving average is $1.60 and its 200 day moving average is $2.05.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.01. On average, research analysts forecast that Phio Pharmaceuticals Corp. will post -8.54 earnings per share for the current year.

Institutional Trading of Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC increased its holdings in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,694 shares of the company’s stock after purchasing an additional 16,108 shares during the quarter. Geode Capital Management LLC owned approximately 1.20% of Phio Pharmaceuticals worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 57.31% of the stock is currently owned by institutional investors and hedge funds.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals Corp. engages in the development of immuno-oncology therapeutics in the United States. The company is developing PH-762, an INTASYL compound in Phase 1b dose-escalating clinical trials to reduce the expression of cell death protein 1 (PD-1), a protein that inhibits T cells’ ability to kill cancer cells; and PH-762 treated double positive tumor infiltrating lymphocytes, which is in Phase 1 clinical trials to treat advanced melanoma and other advanced solid tumors.