Phio Pharmaceuticals (NASDAQ:PHIO) Stock Price Up 6.3% – Here’s Why

Phio Pharmaceuticals Corp. (NASDAQ:PHIO)’s share price rose 6.3% during trading on Monday . The company traded as high as $2.60 and last traded at $2.55. Approximately 286,333 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,447,557 shares. The stock had previously closed at $2.40.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Phio Pharmaceuticals in a report on Wednesday, June 25th.

Phio Pharmaceuticals Stock Up 6.3%

The stock has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $1.96. The firm has a market capitalization of $12.24 million, a P/E ratio of -0.40 and a beta of 0.91.

Institutional Investors Weigh In On Phio Pharmaceuticals

A hedge fund recently bought a new stake in Phio Pharmaceuticals stock. Virtu Financial LLC purchased a new stake in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned 0.59% of Phio Pharmaceuticals as of its most recent SEC filing. 57.31% of the stock is owned by institutional investors and hedge funds.

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.