Short Interest in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Grows By 61.8%

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 287,349 shares, a growth of 61.8% from the July 15th total of 177,615 shares. Based on an average daily trading volume, of 305,619 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.00.

Phio Pharmaceuticals Trading Down 0.9%

Shares of PHIO stock traded down $0.01 during trading hours on Tuesday, reaching $1.05. The company’s stock had a trading volume of 80,226 shares, compared to its average volume of 1,763,549. Phio Pharmaceuticals has a one year low of $0.81 and a one year high of $4.19. The stock has a market capitalization of $12.20 million, a P/E ratio of -0.81 and a beta of 0.82. The firm’s fifty day simple moving average is $1.04 and its 200 day simple moving average is $1.12.

Phio Pharmaceuticals (NASDAQ:PHIO) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.36) EPS for the quarter, hitting analysts’ consensus estimates of ($0.36). As a group, equities research analysts forecast that Phio Pharmaceuticals will post -1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its position in Phio Pharmaceuticals stock. Cetera Investment Advisers raised its position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,500 shares of the company’s stock after acquiring an additional 9,000 shares during the quarter. Cetera Investment Advisers owned approximately 0.39% of Phio Pharmaceuticals worth $45,000 at the end of the most recent quarter. 57.31% of the stock is owned by institutional investors.

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.