Phio Pharmaceuticals (NASDAQ:PHIO) Trading 2.8% Higher – Time to Buy?

Phio Pharmaceuticals Corp. (NASDAQ:PHIO)’s stock price traded up 2.8% during mid-day trading on Thursday . The stock traded as high as $1.84 and last traded at $1.84. 142,298 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,383,015 shares. The stock had previously closed at $1.79.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Phio Pharmaceuticals in a research report on Tuesday, April 8th.

Phio Pharmaceuticals Price Performance

The company’s 50-day simple moving average is $1.75 and its 200-day simple moving average is $2.06. The company has a market cap of $8.79 million, a price-to-earnings ratio of -0.17 and a beta of 0.99.

Institutional Trading of Phio Pharmaceuticals

An institutional investor recently bought a new position in Phio Pharmaceuticals stock. Virtu Financial LLC acquired a new position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned about 0.59% of Phio Pharmaceuticals at the end of the most recent reporting period. 57.31% of the stock is currently owned by hedge funds and other institutional investors.

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.