Phio Pharmaceuticals (NASDAQ:PHIO) Issues Earnings Results

Phio Pharmaceuticals (NASDAQ:PHIO) issued its earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, FiscalAI reports.

Phio Pharmaceuticals Stock Down 6.1%

Phio Pharmaceuticals stock traded down $0.07 during trading hours on Friday, hitting $1.07. The stock had a trading volume of 323,552 shares, compared to its average volume of 142,411. The stock has a market cap of $12.43 million, a price-to-earnings ratio of -0.74 and a beta of 0.84. Phio Pharmaceuticals has a one year low of $0.81 and a one year high of $4.19. The business’s 50 day simple moving average is $1.21 and its 200-day simple moving average is $1.26.

Analyst Ratings Changes

A number of research firms have commented on PHIO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Tuesday, April 21st. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Phio Pharmaceuticals in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Phio Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $14.00.

Institutional Investors Weigh In On Phio Pharmaceuticals

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Cetera Investment Advisers lifted its holdings in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,500 shares of the company’s stock after purchasing an additional 9,000 shares during the period. Cetera Investment Advisers owned 0.39% of Phio Pharmaceuticals worth $45,000 at the end of the most recent reporting period. 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.