Insider Buying: Phio Pharmaceuticals (NASDAQ:PHIO) Director Acquires 15,000 Shares

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Director Ronald Todd Plott acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $1.14 per share, with a total value of $17,100.00. Following the completion of the purchase, the director owned 15,000 shares of the company’s stock, valued at $17,100. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Phio Pharmaceuticals Stock Performance

Shares of PHIO opened at $1.15 on Thursday. The stock has a market capitalization of $13.36 million, a PE ratio of -0.89 and a beta of 0.82. The company has a 50 day moving average price of $1.04 and a 200-day moving average price of $1.12. Phio Pharmaceuticals Corp. has a fifty-two week low of $0.81 and a fifty-two week high of $4.19.

Phio Pharmaceuticals (NASDAQ:PHIO) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.36). Equities research analysts forecast that Phio Pharmaceuticals Corp. will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC boosted its position in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the second quarter, according to the company in its most recent disclosure 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 period. Geode Capital Management LLC owned approximately 1.20% of Phio Pharmaceuticals worth $136,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 57.31% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.