Phio Pharmaceuticals (NASDAQ:PHIO) Trading 1.1% Higher – Here’s What Happened

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) shares were up 1.1% on Friday . The stock traded as high as $1.00 and last traded at $0.97. Approximately 141,224 shares traded hands during trading, a decline of 26% from the average session volume of 190,246 shares. The stock had previously closed at $0.9598.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Phio Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $14.00.

Phio Pharmaceuticals Price Performance

The firm has a fifty day simple moving average of $1.11 and a two-hundred day simple moving average of $1.14. The firm has a market capitalization of $11.27 million, a P/E ratio of -0.70 and a beta of 0.82.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.10). On average, research analysts anticipate that Phio Pharmaceuticals Corp. will post -1.38 EPS for the current year.

Institutional Investors Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its position in Phio Pharmaceuticals stock. Cetera Investment Advisers grew its holdings in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,500 shares of the company’s stock after purchasing an additional 9,000 shares during the quarter. Cetera Investment Advisers owned about 0.39% of Phio Pharmaceuticals worth $45,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 57.31% of the company’s stock.

Phio Pharmaceuticals Company Profile

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.