Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Sees Large Increase in Short Interest

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 650,035 shares, an increase of 36.8% from the January 15th total of 475,269 shares. Based on an average daily volume of 331,338 shares, the days-to-cover ratio is presently 2.0 days. Currently, 6.1% of the shares of the stock are sold short. Currently, 6.1% of the shares of the stock are sold short. Based on an average daily volume of 331,338 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of brokerages have commented on PHIO. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Phio Pharmaceuticals in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Institutional Trading of Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC grew its holdings in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,638 shares of the company’s stock after purchasing an additional 34,732 shares during the quarter. Geode Capital Management LLC owned approximately 0.86% of Phio Pharmaceuticals worth $97,000 at the end of the most recent reporting period. 57.31% of the stock is currently owned by institutional investors.

Phio Pharmaceuticals Stock Up 35.2%

Phio Pharmaceuticals stock traded up $0.43 during midday trading on Monday, reaching $1.65. The stock had a trading volume of 23,998,343 shares, compared to its average volume of 10,527,606. The firm has a market cap of $17.75 million, a price-to-earnings ratio of -0.77 and a beta of 0.94. Phio Pharmaceuticals has a 52-week low of $0.81 and a 52-week high of $4.19. The company has a fifty day moving average of $1.10 and a 200 day moving average of $1.65.

Phio Pharmaceuticals (NASDAQ:PHIO) last released its earnings results on Thursday, November 13th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.01. Equities research analysts predict that Phio Pharmaceuticals will post -8.54 EPS for the current year.

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.