Phio Pharmaceuticals (NASDAQ:PHIO) Trading 1.1% Higher – Here’s What Happened

Phio Pharmaceuticals Corp. (NASDAQ:PHIO)’s stock price shot up 1.1% during mid-day trading on Friday . The stock traded as high as $1.00 and last traded at $0.97. Approximately 141,224 shares changed hands during trading, a decline of 26% from the average daily volume of 190,246 shares. The stock had previously closed at $0.9598.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.00.

Phio Pharmaceuticals Price Performance

The firm’s fifty day moving average is $1.11 and its two-hundred day moving average is $1.14. The firm has a market capitalization of $11.27 million, a PE ratio of -0.70 and a beta of 0.82.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.10). As a group, equities research analysts predict that Phio Pharmaceuticals Corp. will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Cetera Investment Advisers grew its holdings in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,500 shares of the company’s stock after purchasing an additional 9,000 shares during the quarter. Cetera Investment Advisers owned approximately 0.39% of Phio Pharmaceuticals worth $45,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 57.31% of the company’s stock.

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.