Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Update

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) saw a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 528,245 shares, a decrease of 77.4% from the February 12th total of 2,335,588 shares. Based on an average daily trading volume, of 1,123,105 shares, the short-interest ratio is currently 0.5 days. Approximately 4.6% of the shares of the stock are short sold. Approximately 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,123,105 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Phio Pharmaceuticals

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Phio Pharmaceuticals in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.00.

Phio Pharmaceuticals Price Performance

Shares of NASDAQ PHIO traded up $0.02 during mid-day trading on Tuesday, hitting $1.23. 336,971 shares of the company’s stock traded hands, compared to its average volume of 4,978,316. The company’s 50-day moving average is $1.12 and its two-hundred day moving average is $1.54. The company has a market capitalization of $14.29 million, a P/E ratio of -0.85 and a beta of 0.90. Phio Pharmaceuticals has a 1 year low of $0.81 and a 1 year high of $4.19.

Phio Pharmaceuticals (NASDAQ:PHIO) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.19. Equities analysts anticipate that Phio Pharmaceuticals will post -8.54 EPS for the current fiscal year.

About Phio Pharmaceuticals

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.