Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Up 259.3% in February

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 2,335,588 shares, an increase of 259.3% from the January 29th total of 650,035 shares. Currently, 21.9% of the company’s stock are short sold. Based on an average trading volume of 20,308,761 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 20,308,761 shares, the days-to-cover ratio is presently 0.1 days. Currently, 21.9% of the company’s stock are short sold.

Institutional Trading of Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC grew its stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 60.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,638 shares of the company’s stock after purchasing an additional 34,732 shares during the period. Geode Capital Management LLC owned approximately 0.86% of Phio Pharmaceuticals worth $97,000 at the end of the most recent reporting period. 57.31% of the stock is owned by hedge funds and other institutional investors.

Phio Pharmaceuticals Stock Performance

Shares of Phio Pharmaceuticals stock opened at $1.14 on Friday. The company’s fifty day moving average is $1.11 and its two-hundred day moving average is $1.59. Phio Pharmaceuticals has a 1 year low of $0.81 and a 1 year high of $4.19. The company has a market capitalization of $12.27 million, a P/E ratio of -0.53 and a beta of 0.94.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, January 22nd. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Phio Pharmaceuticals in a research report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.00.

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.