Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Up 50.3% in May

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 413,000 shares, an increase of 50.3% from the April 30th total of 274,700 shares. Currently, 8.7% of the company’s shares are sold short. Based on an average trading volume of 3,010,000 shares, the days-to-cover ratio is presently 0.1 days.

Phio Pharmaceuticals Price Performance

Phio Pharmaceuticals stock traded up $0.01 during midday trading on Tuesday, reaching $2.06. 86,536 shares of the company traded hands, compared to its average volume of 2,380,151. Phio Pharmaceuticals has a 12 month low of $0.97 and a 12 month high of $9.79. The firm has a market capitalization of $9.88 million, a price-to-earnings ratio of -0.19 and a beta of 0.99. The business has a 50 day moving average of $1.83 and a two-hundred day moving average of $2.00.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Phio Pharmaceuticals in a report on Tuesday, April 8th.

Institutional Investors Weigh In On Phio Pharmaceuticals

An institutional investor recently bought a new position in Phio Pharmaceuticals stock. Virtu Financial LLC bought a new stake in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned about 0.59% of Phio Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 57.31% of the company’s stock.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals Corp. engages in the development of immuno-oncology therapeutics in the United States. The company is developing PH-762, an INTASYL compound in Phase 1b dose-escalating clinical trials to reduce the expression of cell death protein 1 (PD-1), a protein that inhibits T cells’ ability to kill cancer cells; and PH-762 treated double positive tumor infiltrating lymphocytes, which is in Phase 1 clinical trials to treat advanced melanoma and other advanced solid tumors.