Phio Pharmaceuticals Corp (NASDAQ:PHIO) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 587,600 shares, a drop of 18.3% from the June 30th total of 718,900 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 195,800 shares, the days-to-cover ratio is currently 3.0 days.

Shares of Phio Pharmaceuticals stock traded down $0.02 during midday trading on Tuesday, hitting $0.34. 456,100 shares of the company were exchanged, compared to its average volume of 417,858. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.52 and a current ratio of 8.52. The company has a market capitalization of $9.06 million, a price-to-earnings ratio of -0.33 and a beta of 1.83. Phio Pharmaceuticals has a 52 week low of $0.27 and a 52 week high of $2.19. The firm has a 50 day simple moving average of $0.39.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its earnings results on Monday, August 12th. The company reported ($0.08) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). As a group, sell-side analysts anticipate that Phio Pharmaceuticals will post -0.36 earnings per share for the current year.

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

A hedge fund recently bought a new stake in Phio Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in Phio Pharmaceuticals Corp (NASDAQ:PHIO) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 238,544 shares of the company’s stock, valued at approximately $107,000. Virtu Financial LLC owned about 1.07% of Phio Pharmaceuticals as of its most recent filing with the SEC. 7.08% of the stock is currently owned by institutional investors and hedge funds.

About Phio Pharmaceuticals

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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