Phio Pharmaceuticals (NASDAQ:PHIO) Shares Up 4% – What’s Next?

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) shares traded up 4% during trading on Tuesday . The company traded as high as $1.30 and last traded at $1.29. 238,303 shares changed hands during trading, a decline of 93% from the average session volume of 3,367,721 shares. The stock had previously closed at $1.24.

Analyst Ratings Changes

PHIO has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Phio Pharmaceuticals in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Phio Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $14.00.

Phio Pharmaceuticals Stock Up 4.0%

The company has a 50 day moving average of $1.20 and a two-hundred day moving average of $1.38. The firm has a market cap of $14.99 million, a P/E ratio of -0.89 and a beta of 0.81.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.19. Research analysts expect that Phio Pharmaceuticals Corp. will post -8.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Cetera Investment Advisers raised its position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,500 shares of the company’s stock after buying an additional 9,000 shares during the quarter. Cetera Investment Advisers owned 0.39% of Phio Pharmaceuticals worth $45,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 57.31% of the company’s stock.

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.