Phio Pharmaceuticals (NASDAQ:PHIO) Earns Buy Rating from HC Wainwright

Phio Pharmaceuticals (NASDAQ:PHIO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $14.00 price objective on the stock.

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

Phio Pharmaceuticals Price Performance

PHIO traded up $0.40 during trading hours on Tuesday, reaching $1.30. 145,513,914 shares of the stock traded hands, compared to its average volume of 5,661,534. Phio Pharmaceuticals has a fifty-two week low of $0.81 and a fifty-two week high of $4.19. The firm’s fifty day simple moving average is $1.09 and its two-hundred day simple moving average is $1.69. The company has a market cap of $13.93 million, a price-to-earnings ratio of -0.60 and a beta of 0.94.

Phio Pharmaceuticals (NASDAQ:PHIO) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.01. On average, research analysts predict that Phio Pharmaceuticals will post -8.54 earnings per share for the current year.

Institutional Investors Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC increased its position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,694 shares of the company’s stock after buying an additional 16,108 shares during the quarter. Geode Capital Management LLC owned about 1.20% of Phio Pharmaceuticals worth $136,000 as of its most recent SEC filing. 57.31% of the stock is owned by hedge funds and other institutional investors.

About Phio Pharmaceuticals

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.