Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Stock Short Interest Drops 40.3%

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 89,454 shares, a decline of 40.3% from the September 15th total of 149,890 shares. Based on an average trading volume of 114,595 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.8% of the company’s shares are sold short.

Phio Pharmaceuticals Price Performance

Shares of Phio Pharmaceuticals stock opened at $0.95 on Thursday. The firm’s 50-day moving average is $1.05 and its two-hundred day moving average is $1.09. Phio Pharmaceuticals has a 1 year low of $0.81 and a 1 year high of $4.19. The stock has a market cap of $11.03 million, a price-to-earnings ratio of -0.74 and a beta of 0.84.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.36). On average, equities analysts expect that Phio Pharmaceuticals will post -1.45 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PHIO. HC Wainwright reissued a “buy” rating on shares of Phio Pharmaceuticals in a research report on Wednesday, August 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Phio Pharmaceuticals presently has an average rating of “Hold” and an average price target of $14.00.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp. is a clinical-stage biotechnology company focused on developing immuno-oncology treatments based on its INTASYL self-delivering RNAi technology. The platform is designed to enable small interfering RNA (siRNA) molecules to enter cells without the use of conventional delivery vehicles and to reduce the expression of selected genes involved in cancer biology and immune-system activity.

The company’s pipeline has included product candidates intended to improve the ability of immune cells to recognize and destroy tumors.