Phio Pharmaceuticals (NASDAQ:PHIO) Posts Earnings Results

Phio Pharmaceuticals (NASDAQ:PHIO) released its earnings results on Thursday. The company reported ($0.15) earnings per share (EPS) for the quarter, FiscalAI reports.

Phio Pharmaceuticals Price Performance

NASDAQ PHIO traded up $0.02 during trading hours on Thursday, reaching $1.17. The company’s stock had a trading volume of 650,109 shares, compared to its average volume of 5,299,518. The firm has a market capitalization of $12.59 million, a price-to-earnings ratio of -0.54 and a beta of 0.90. Phio Pharmaceuticals has a 1-year low of $0.81 and a 1-year high of $4.19. The company’s 50-day moving average is $1.11 and its two-hundred day moving average is $1.56.

Analysts Set New Price Targets

A number of research firms recently commented on PHIO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Phio Pharmaceuticals in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Phio Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $14.00.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Cetera Investment Advisers raised its position in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,500 shares of the company’s stock after buying an additional 9,000 shares during the period. Cetera Investment Advisers owned about 0.39% of Phio Pharmaceuticals worth $45,000 at the end of the most recent reporting period. 57.31% of the stock is owned by institutional investors.

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.