Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Down 45.1% in May

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 226,900 shares, a drop of 45.1% from the May 15th total of 413,000 shares. Based on an average daily trading volume, of 3,170,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 4.8% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, HC Wainwright assumed coverage on shares of Phio Pharmaceuticals in a research note on Thursday, June 5th. They issued a “buy” rating and a $14.00 price target on the stock.

Institutional Trading of Phio Pharmaceuticals

An institutional investor recently bought a new position in Phio Pharmaceuticals stock. Virtu Financial LLC bought a new stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned 0.59% of Phio Pharmaceuticals at the end of the most recent reporting period. 57.31% of the stock is owned by institutional investors and hedge funds.

Phio Pharmaceuticals Stock Up 9.3%

NASDAQ PHIO traded up $0.21 during trading hours on Monday, hitting $2.48. 162,711 shares of the company were exchanged, compared to its average volume of 5,160,989. The firm has a market cap of $11.90 million, a price-to-earnings ratio of -0.23 and a beta of 0.84. The company has a 50 day moving average of $2.06 and a two-hundred day moving average of $2.01. Phio Pharmaceuticals has a 52-week low of $0.97 and a 52-week high of $9.79.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp. engages in the development of immuno-oncology therapeutics in the United States. The company is developing PH-762, an INTASYL compound in Phase 1b dose-escalating clinical trials to reduce the expression of cell death protein 1 (PD-1), a protein that inhibits T cells’ ability to kill cancer cells; and PH-762 treated double positive tumor infiltrating lymphocytes, which is in Phase 1 clinical trials to treat advanced melanoma and other advanced solid tumors.