Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Up 61.8% in July

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 287,349 shares, an increase of 61.8% from the July 15th total of 177,615 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 305,619 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

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

Phio Pharmaceuticals Price Performance

NASDAQ:PHIO traded down $0.03 during trading hours on Monday, reaching $1.06. The company’s stock had a trading volume of 78,217 shares, compared to its average volume of 1,774,250. The company has a market cap of $12.38 million, a price-to-earnings ratio of -0.83 and a beta of 0.82. Phio Pharmaceuticals has a one year low of $0.81 and a one year high of $4.19. The business’s 50-day moving average is $1.04 and its 200-day moving average is $1.12.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its earnings results on Thursday, August 6th. The company reported ($0.36) earnings per share for the quarter, meeting the consensus estimate of ($0.36). On average, sell-side analysts predict that Phio Pharmaceuticals will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Phio Pharmaceuticals stock. Cetera Investment Advisers increased its stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% in the 4th quarter, according to the company in its most recent filing with the 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. 57.31% of the stock is currently owned by 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.