Short Interest in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Expands By 61.8%

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 287,349 shares, an increase of 61.8% from the July 15th total of 177,615 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 305,619 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.00.

Hedge Funds Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Cetera Investment Advisers increased its position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 26.9% during the 4th quarter, according to the company in its most recent Form 13F 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 quarter. 57.31% of the stock is owned by hedge funds and other institutional investors.

Phio Pharmaceuticals Price Performance

PHIO traded up $0.08 during trading hours on Wednesday, hitting $1.13. 329,740 shares of the stock were exchanged, compared to its average volume of 1,753,788. The stock has a market cap of $13.13 million, a price-to-earnings ratio of -0.88 and a beta of 0.82. The stock has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $1.12. Phio Pharmaceuticals has a 12 month low of $0.81 and a 12 month high of $4.19.

Phio Pharmaceuticals (NASDAQ:PHIO) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.36). Sell-side analysts expect that Phio Pharmaceuticals will post -1.41 EPS for the current 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.