Phio Pharmaceuticals Corp (NASDAQ:PHIO) Sees Large Decrease in Short Interest

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Phio Pharmaceuticals Corp (NASDAQ:PHIO) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 587,600 shares, a drop of 18.3% from the June 30th total of 718,900 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily volume of 195,800 shares, the days-to-cover ratio is presently 3.0 days.

A number of institutional investors and hedge funds have recently bought and sold shares of PHIO. SG Americas Securities LLC boosted its position in Phio Pharmaceuticals by 163.8% during the second quarter. SG Americas Securities LLC now owns 603,528 shares of the company’s stock worth $229,000 after acquiring an additional 374,703 shares during the last quarter. Virtu Financial LLC acquired a new position in Phio Pharmaceuticals during the first quarter worth about $107,000. Finally, Citadel Advisors LLC boosted its position in Phio Pharmaceuticals by 148.9% during the second quarter. Citadel Advisors LLC now owns 85,621 shares of the company’s stock worth $33,000 after acquiring an additional 51,216 shares during the last quarter. Hedge funds and other institutional investors own 7.08% of the company’s stock.

Separately, ValuEngine upgraded shares of Phio Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd.

PHIO remained flat at $$0.35 on Thursday. 163,051 shares of the company were exchanged, compared to its average volume of 414,003. The stock has a market capitalization of $8.36 million, a price-to-earnings ratio of -0.34 and a beta of 1.83. Phio Pharmaceuticals has a 52-week low of $0.27 and a 52-week high of $2.19. The firm has a fifty day moving average price of $0.39. The company has a quick ratio of 8.52, a current ratio of 8.52 and a debt-to-equity ratio of 0.04.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). Research analysts anticipate that Phio Pharmaceuticals will post -0.36 earnings per share for the current fiscal year.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp., a biotechnology company, focuses on discovering and developing immuno-oncology therapeutics to treat cancer. The company's lead product candidate is RXI-109, an sd-rxRNA that reduces the expression of connective tissue growth factor, a critical regulator of several biological pathways involved in fibrosis, including scar formation in the skin and eye.

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