Phio Pharmaceuticals (NASDAQ:PHIO) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Phio Pharmaceuticals (NASDAQ:PHIO) released its quarterly earnings results on Thursday. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.01, FiscalAI reports.

Phio Pharmaceuticals Stock Down 9.1%

PHIO stock traded down $0.13 during midday trading on Friday, hitting $1.30. The company’s stock had a trading volume of 480,255 shares, compared to its average volume of 3,741,685. Phio Pharmaceuticals has a 12 month low of $0.97 and a 12 month high of $9.79. The company has a 50 day moving average of $2.09 and a two-hundred day moving average of $2.16. The firm has a market capitalization of $7.45 million, a price-to-earnings ratio of -0.40 and a beta of 0.96.

Hedge Funds Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC lifted its stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,694 shares of the company’s stock after purchasing an additional 16,108 shares during the quarter. Geode Capital Management LLC owned about 1.20% of Phio Pharmaceuticals worth $136,000 at the end of the most recent reporting period. 57.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen cut Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Phio Pharmaceuticals in a research note on Friday, August 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.00.

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.