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

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

Wall Street Analysts Forecast Growth

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

Phio Pharmaceuticals Price Performance

Phio Pharmaceuticals stock traded down $0.03 during trading hours on Monday, hitting $1.06. The company had a trading volume of 78,217 shares, compared to its average volume of 1,774,250. Phio Pharmaceuticals has a fifty-two week low of $0.81 and a fifty-two week high of $4.19. The firm has a market capitalization of $12.38 million, a P/E ratio of -0.83 and a beta of 0.82. The firm’s fifty day moving average is $1.04 and its 200-day moving average is $1.12.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.36) EPS for the quarter, meeting the consensus estimate of ($0.36). Analysts anticipate that Phio Pharmaceuticals will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC grew its position in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,694 shares of the company’s stock after purchasing an additional 16,108 shares during the period. 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.

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.