Short Interest in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Expands By 55.8%

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 475,269 shares, a growth of 55.8% from the December 31st total of 305,070 shares. Based on an average trading volume of 388,480 shares, the days-to-cover ratio is presently 1.2 days. Approximately 4.5% of the shares of the stock are sold short. Approximately 4.5% of the shares of the stock are sold short. Based on an average trading volume of 388,480 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Phio Pharmaceuticals Price Performance

Shares of PHIO stock traded down $0.02 during trading on Monday, hitting $0.99. 164,877 shares of the stock traded hands, compared to its average volume of 354,805. Phio Pharmaceuticals has a 52-week low of $0.97 and a 52-week high of $4.19. The firm has a market capitalization of $10.63 million, a P/E ratio of -0.46 and a beta of 0.89. The firm’s fifty day moving average price is $1.13 and its 200-day moving average price is $1.76.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted 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. As a group, equities research analysts expect that Phio Pharmaceuticals will post -8.54 earnings per share for the current year.

Institutional Investors Weigh In On Phio Pharmaceuticals

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC lifted its position in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,694 shares of the company’s stock after buying an additional 16,108 shares during the quarter. Geode Capital Management LLC owned approximately 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 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.