Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Sees Significant Increase in Short Interest

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 650,035 shares, an increase of 36.8% from the January 15th total of 475,269 shares. Approximately 6.1% of the company’s shares are sold short. Based on an average daily trading volume, of 331,338 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily trading volume, of 331,338 shares, the days-to-cover ratio is currently 2.0 days. Approximately 6.1% of the company’s shares are sold short.

Phio Pharmaceuticals Stock Performance

PHIO traded up $0.43 during trading on Friday, hitting $1.65. 23,998,343 shares of the stock were exchanged, compared to its average volume of 9,324,266. The firm has a 50 day simple moving average of $1.09 and a 200 day simple moving average of $1.66. The firm has a market cap of $17.75 million, a price-to-earnings ratio of -0.77 and a beta of 0.94. Phio Pharmaceuticals has a 1 year low of $0.81 and a 1 year high of $4.19.

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, topping analysts’ consensus estimates of ($0.45) by $0.01. As a group, equities analysts anticipate that Phio Pharmaceuticals will post -8.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on PHIO. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Phio Pharmaceuticals in a research report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.00.

Institutional Investors Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC increased its holdings in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 60.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,638 shares of the company’s stock after purchasing an additional 34,732 shares during the period. Geode Capital Management LLC owned 0.86% of Phio Pharmaceuticals worth $97,000 as of its most recent SEC filing. Institutional investors and hedge funds own 57.31% of the company’s stock.

About Phio Pharmaceuticals

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.