Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Sees Significant Growth in Short Interest

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 305,070 shares, a growth of 50.7% from the December 15th total of 202,403 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 350,979 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 350,979 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PHIO shares. Wall Street Zen cut Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Phio Pharmaceuticals has an average rating of “Hold” and a consensus price target of $14.00.

Hedge Funds Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC raised its holdings in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,694 shares of the company’s stock after purchasing an additional 16,108 shares during the period. Geode Capital Management LLC owned 1.20% of Phio Pharmaceuticals worth $136,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 57.31% of the company’s stock.

Phio Pharmaceuticals Stock Up 0.9%

NASDAQ PHIO traded up $0.01 during mid-day trading on Friday, hitting $1.14. The stock had a trading volume of 132,139 shares, compared to its average volume of 356,893. The company has a 50 day simple moving average of $1.19 and a 200 day simple moving average of $1.86. The company has a market cap of $12.27 million, a price-to-earnings ratio of -0.53 and a beta of 0.89. Phio Pharmaceuticals has a 52-week low of $0.97 and a 52-week high of $4.19.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its earnings results on Thursday, November 13th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.01. As a group, equities analysts anticipate that Phio Pharmaceuticals will post -8.54 earnings per share for the current fiscal year.

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.