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

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 202,403 shares, a decline of 18.8% from the November 30th total of 249,310 shares. Based on an average trading volume of 375,112 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.9% of the company’s stock are sold short. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 375,112 shares, the days-to-cover ratio is presently 0.5 days.

Phio Pharmaceuticals Stock Up 2.9%

NASDAQ:PHIO opened at $1.05 on Friday. The company has a market cap of $11.30 million, a PE ratio of -0.49 and a beta of 0.89. The business’s 50 day moving average is $1.35 and its two-hundred day moving average is $1.95. Phio Pharmaceuticals has a 52 week low of $0.97 and a 52 week high of $9.79.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.01. As a group, sell-side analysts expect that Phio Pharmaceuticals will post -8.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC lifted its stake in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,694 shares of the company’s stock after acquiring an additional 16,108 shares during the quarter. Geode Capital Management LLC owned 1.20% of Phio Pharmaceuticals worth $136,000 at the end of the most recent reporting period. 57.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PHIO shares. Wall Street Zen lowered Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.00.

Phio Pharmaceuticals Company Profile

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.