HC Wainwright Reaffirms “Buy” Rating for Phio Pharmaceuticals (NASDAQ:PHIO)

Phio Pharmaceuticals (NASDAQ:PHIO)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $14.00 price target on the stock.

Phio Pharmaceuticals Price Performance

NASDAQ:PHIO opened at $2.18 on Friday. The firm has a market capitalization of $10.46 million, a price-to-earnings ratio of -0.67 and a beta of 0.86. Phio Pharmaceuticals has a 1 year low of $0.97 and a 1 year high of $9.79. The business has a 50 day simple moving average of $2.38 and a 200-day simple moving average of $1.97.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.09). As a group, analysts expect that Phio Pharmaceuticals will post -8.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC grew its stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,694 shares of the company’s stock after purchasing an additional 16,108 shares during the period. Geode Capital Management LLC owned approximately 1.20% of Phio Pharmaceuticals worth $136,000 at the end of the most recent reporting period. Institutional investors own 57.31% of the company’s stock.

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.