Short Interest in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Increases By 50.7%

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 305,070 shares, an increase of 50.7% from the December 15th total of 202,403 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average trading volume of 350,979 shares, the days-to-cover ratio is currently 0.9 days. Based on an average trading volume of 350,979 shares, the days-to-cover ratio is currently 0.9 days. Currently, 2.9% of the company’s shares are short sold.

Analysts Set New Price Targets

PHIO has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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 lifted its stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,694 shares of the company’s stock after buying 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 reporting period. Hedge funds and other institutional investors own 57.31% of the company’s stock.

Phio Pharmaceuticals Stock Performance

Shares of Phio Pharmaceuticals stock traded up $0.01 on Friday, reaching $1.14. The stock had a trading volume of 132,139 shares, compared to its average volume of 356,893. Phio Pharmaceuticals has a fifty-two week low of $0.97 and a fifty-two week high of $4.19. The business’s 50-day moving average price is $1.19 and its two-hundred day moving average price is $1.86. The stock has a market cap of $12.27 million, a P/E ratio of -0.53 and a beta of 0.89.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued 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, equities analysts forecast that Phio Pharmaceuticals will post -8.54 earnings per share for the current fiscal 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.