HC Wainwright Reaffirms “Buy” Rating for Phio Pharmaceuticals (NASDAQ:PHIO)

Phio Pharmaceuticals (NASDAQ:PHIO)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $4.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 127.27% from the company’s current price.

Phio Pharmaceuticals Price Performance

Shares of PHIO traded up $0.06 during trading hours on Wednesday, hitting $1.76. The stock had a trading volume of 116,369 shares, compared to its average volume of 11,696,454. The firm has a 50 day simple moving average of $2.30 and a 200-day simple moving average of $2.70. The firm has a market capitalization of $12.13 million, a P/E ratio of -0.16 and a beta of 1.53. Phio Pharmaceuticals has a 1-year low of $1.53 and a 1-year high of $10.35.

Hedge Funds Weigh In On Phio Pharmaceuticals

An institutional investor recently bought a new position in Phio Pharmaceuticals stock. Virtu Financial LLC purchased a new stake in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned about 0.59% of Phio Pharmaceuticals as of its most recent filing with the SEC. 57.31% of the stock is owned by institutional investors.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals Corp. engages in the development of immuno-oncology therapeutics in the United States. The company is developing PH-762, an INTASYL compound in Phase 1b dose-escalating clinical trials to reduce the expression of cell death protein 1 (PD-1), a protein that inhibits T cells’ ability to kill cancer cells; and PH-762 treated double positive tumor infiltrating lymphocytes, which is in Phase 1 clinical trials to treat advanced melanoma and other advanced solid tumors.