Short Interest in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Increases By 55.8%

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 475,269 shares, a growth of 55.8% from the December 31st total of 305,070 shares. Based on an average daily volume of 388,480 shares, the days-to-cover ratio is presently 1.2 days. Approximately 4.5% of the company’s stock are sold short. Approximately 4.5% of the company’s stock are sold short. Based on an average daily volume of 388,480 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Ratings Changes

Several research firms have recently weighed in on PHIO. Wall Street Zen cut shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Phio Pharmaceuticals presently has an average 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 raised its position in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,694 shares of the company’s stock after buying an additional 16,108 shares during the quarter. Geode Capital Management LLC owned about 1.20% of Phio Pharmaceuticals worth $136,000 at the end of the most recent quarter. 57.31% of the stock is owned by institutional investors.

Phio Pharmaceuticals Trading Down 1.0%

Shares of NASDAQ:PHIO traded down $0.01 on Friday, reaching $1.01. 238,457 shares of the company’s stock were exchanged, compared to its average volume of 352,899. Phio Pharmaceuticals has a twelve month low of $0.97 and a twelve month high of $4.19. The company has a fifty day moving average of $1.13 and a 200-day moving average of $1.77. The company has a market capitalization of $10.87 million, a price-to-earnings ratio of -0.47 and a beta of 0.89.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued 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 research analysts forecast that Phio Pharmaceuticals will post -8.54 EPS for the current fiscal year.

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.