Phio Pharmaceuticals (NASDAQ:PHIO) Issues Quarterly Earnings Results

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

Phio Pharmaceuticals Stock Down 1.9%

Shares of NASDAQ:PHIO traded down $0.02 during midday trading on Friday, hitting $1.04. The stock had a trading volume of 86,066 shares, compared to its average volume of 1,532,297. The company has a market cap of $12.08 million, a P/E ratio of -0.75 and a beta of 0.82. Phio Pharmaceuticals has a 12 month low of $0.81 and a 12 month high of $4.19. The business’s 50-day simple moving average is $1.04 and its 200-day simple moving average is $1.12.

Hedge Funds Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC increased its holdings in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,694 shares of the company’s stock after acquiring 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.