Phio Pharmaceuticals (NASDAQ:PHIO) Sees Unusually-High Trading Volume

Shares of Phio Pharmaceuticals Corp (NASDAQ:PHIO) saw an uptick in trading volume on Tuesday . 702,619 shares traded hands during mid-day trading, an increase of 86% from the previous session’s volume of 378,056 shares.The stock last traded at $0.34 and had previously closed at $0.32.

Separately, ValuEngine upgraded shares of Phio Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd.

The business has a 50 day moving average of $0.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.87 and a current ratio of 5.87. The stock has a market capitalization of $8.19 million, a PE ratio of -0.31 and a beta of 1.75.

Phio Pharmaceuticals (NASDAQ:PHIO) last released its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). On average, equities analysts forecast that Phio Pharmaceuticals Corp will post -0.36 earnings per share for the current year.

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. SG Americas Securities LLC boosted its stake in Phio Pharmaceuticals Corp (NASDAQ:PHIO) by 163.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 603,528 shares of the company’s stock after buying an additional 374,703 shares during the quarter. SG Americas Securities LLC owned approximately 2.53% of Phio Pharmaceuticals worth $229,000 at the end of the most recent quarter. 5.27% of the stock is owned by institutional investors.

About Phio Pharmaceuticals (NASDAQ:PHIO)

Phio Pharmaceuticals Corp., a biotechnology company, focuses on discovering and developing immuno-oncology therapeutics to treat cancer. The company's lead product candidate is RXI-109, an sd-rxRNA that reduces the expression of connective tissue growth factor, a critical regulator of several biological pathways involved in fibrosis, including scar formation in the skin and eye.

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