Phio Pharmaceuticals (NASDAQ:PHIO) Trading Up 0.4% – Still a Buy?

Phio Pharmaceuticals Corp. (NASDAQ:PHIO)’s stock price was up 0.4% during trading on Tuesday . The company traded as high as $2.70 and last traded at $2.54. Approximately 555,329 shares changed hands during trading, a decline of 79% from the average daily volume of 2,624,908 shares. The stock had previously closed at $2.53.

Analyst Upgrades and Downgrades

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

Phio Pharmaceuticals Trading Up 0.4%

The business’s 50 day moving average price is $2.32 and its two-hundred day moving average price is $2.02. The stock has a market cap of $12.19 million, a P/E ratio of -0.40 and a beta of 0.91.

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 and Exchange Commission. The fund bought 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned approximately 0.59% of Phio Pharmaceuticals at the end of the most recent quarter. 57.31% of the stock is currently owned by institutional investors.

About Phio Pharmaceuticals

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.