Phio Pharmaceuticals (NASDAQ:PHIO) Trading Up 1% – Here’s Why

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was up 1% during trading on Friday . The company traded as high as $1.06 and last traded at $1.03. Approximately 156,564 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 152,262 shares. The stock had previously closed at $1.02.

Analyst Ratings Changes

PHIO has been the subject of several analyst reports. HC Wainwright restated a “buy” rating on shares of Phio Pharmaceuticals in a research report on Wednesday, August 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.00.

Phio Pharmaceuticals Stock Up 1.0%

The business’s 50 day simple moving average is $1.07 and its 200 day simple moving average is $1.12. The stock has a market cap of $11.97 million, a price-to-earnings ratio of -0.80 and a beta of 0.80.

Phio Pharmaceuticals (NASDAQ:PHIO) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.36) earnings per share for the quarter, hitting the consensus estimate of ($0.36). Equities research analysts forecast that Phio Pharmaceuticals Corp. will post -1.45 earnings per share for the current fiscal year.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a clinical-stage biotechnology company focused on developing immuno-oncology therapies. The company’s research centers on RNA interference (RNAi), a biological process that can reduce the production of specific proteins involved in disease. Phio is developing treatments intended to activate and enhance the body’s immune response against cancer.

The company’s proprietary INTASYL™ platform is designed to deliver small interfering RNA (siRNA) directly into cells without requiring traditional delivery vehicles.