Phio Pharmaceuticals (NASDAQ:PHIO) Stock Falls 8% – Time to Sell?

Shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) were down 8% during trading on Thursday. The company traded as low as $0.7990 and last traded at $0.80. 115,968 shares were traded during mid-day trading, an increase of 83% from the average session volume of 63,541 shares. The stock had previously closed at $0.8699.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating on shares of Phio Pharmaceuticals in a research report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

Phio Pharmaceuticals Stock Performance

The company has a 50-day simple moving average of $0.98 and a two-hundred day simple moving average of $1.08. The firm has a market capitalization of $9.30 million, a P/E ratio of -0.62 and a beta of 0.93.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its earnings results on Thursday, November 5th. The company reported ($0.36) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.36). As a group, research analysts forecast that Phio Pharmaceuticals Corp. will post -1.45 earnings per share for the current fiscal year.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a biotechnology company focused on developing cancer immunotherapies. The company’s programs are designed to enhance the immune system’s ability to recognize and destroy tumor cells, with an emphasis on treatments that may be administered directly to the tumor or used in combination with other therapies.

Phio’s research is based on its INTASYL self-delivering RNA interference (RNAi) technology. The platform is intended to selectively silence genes involved in immune suppression and cancer progression without requiring a separate delivery vehicle.