Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Up 462.2% in April

Phio Pharmaceuticals Corp. (NASDAQ:PHIOGet Rating) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,120,000 shares, an increase of 462.2% from the March 31st total of 199,200 shares. Currently, 8.6% of the company’s stock are sold short. Based on an average daily trading volume, of 3,290,000 shares, the short-interest ratio is currently 0.3 days.

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new position in shares of Phio Pharmaceuticals during the 3rd quarter valued at approximately $61,000. Two Sigma Advisers LP boosted its holdings in Phio Pharmaceuticals by 165.8% in the 3rd quarter. Two Sigma Advisers LP now owns 153,100 shares of the company’s stock worth $311,000 after buying an additional 95,500 shares during the period. Millennium Management LLC boosted its holdings in Phio Pharmaceuticals by 1,122.7% in the 3rd quarter. Millennium Management LLC now owns 122,693 shares of the company’s stock worth $248,000 after buying an additional 112,658 shares during the period. Geode Capital Management LLC boosted its holdings in Phio Pharmaceuticals by 22.5% in the 3rd quarter. Geode Capital Management LLC now owns 107,192 shares of the company’s stock worth $216,000 after buying an additional 19,691 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in Phio Pharmaceuticals in the 2nd quarter worth approximately $43,000. 12.46% of the stock is owned by hedge funds and other institutional investors.

PHIO has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Phio Pharmaceuticals in a research report on Wednesday, January 12th. Zacks Investment Research raised shares of Phio Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 18th.

Shares of Phio Pharmaceuticals stock traded down $0.05 on Wednesday, reaching $0.99. 17,964 shares of the company traded hands, compared to its average volume of 3,093,049. Phio Pharmaceuticals has a 52 week low of $0.70 and a 52 week high of $2.85. The company has a 50 day moving average of $0.99 and a 200 day moving average of $1.15. The firm has a market capitalization of $13.40 million, a PE ratio of -0.99 and a beta of 1.84.

About Phio Pharmaceuticals (Get Rating)

Phio Pharmaceuticals Corp., a biotechnology company, develops immuno-oncology therapeutics in the United States. It offers INTASYL therapeutic platform focuses on silencing tumor-induced suppression of the immune system. The company develops PH-762 which targets the checkpoint protein PD-1 on immune cells for used in adoptive cell transfer (ACT); PH-804 that targets the suppressive immune receptor TIGIT, which is a checkpoint protein present on T cells and natural killer cells for used in ACT; and PH-790 which targets PD-L1 protein that keeps immune cells from attacking nonharmful cells in the body.

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