Phio Pharmaceuticals (NASDAQ:PHIO) Releases Quarterly Earnings Results, Hits Estimates

Phio Pharmaceuticals (NASDAQ:PHIO) released its quarterly earnings data on Thursday. The company reported ($0.36) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.36), FiscalAI reports.

Phio Pharmaceuticals Trading Down 0.9%

NASDAQ:PHIO traded down $0.01 during midday trading on Thursday, reaching $1.06. The company had a trading volume of 50,609 shares, compared to its average volume of 1,538,529. Phio Pharmaceuticals has a 12-month low of $0.81 and a 12-month high of $4.19. The firm has a market capitalization of $12.32 million, a price-to-earnings ratio of -0.77 and a beta of 0.82. The stock’s fifty day simple moving average is $1.04 and its 200-day simple moving average is $1.12.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.00.

Institutional Investors Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Cetera Investment Advisers grew its stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,500 shares of the company’s stock after buying an additional 9,000 shares during the quarter. Cetera Investment Advisers owned 0.39% of Phio Pharmaceuticals worth $45,000 as of its most recent filing with the SEC. 57.31% of the stock is owned by hedge funds and other 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.