Phio Pharmaceuticals’ (PHIO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Phio Pharmaceuticals (NASDAQ:PHIO) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $14.00 price objective on the stock.

Phio Pharmaceuticals Stock Performance

PHIO stock opened at $2.17 on Wednesday. The firm has a market cap of $10.42 million, a price-to-earnings ratio of -0.20 and a beta of 0.84. The firm has a 50-day simple moving average of $2.12 and a two-hundred day simple moving average of $1.98. Phio Pharmaceuticals has a one year low of $0.97 and a one year high of $9.79.

Hedge Funds Weigh In On Phio Pharmaceuticals

An institutional investor recently bought a new position in Phio Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned about 0.59% of Phio Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 57.31% of the company’s stock.

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.