Phio Pharmaceuticals (NASDAQ:PHIO) Lowered to Sell Rating by Wall Street Zen

Phio Pharmaceuticals (NASDAQ:PHIO) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Separately, HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Phio Pharmaceuticals in a research note on Friday, August 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $14.00.

Phio Pharmaceuticals Stock Performance

Shares of Phio Pharmaceuticals stock opened at $2.09 on Friday. The business’s 50 day simple moving average is $2.34 and its 200 day simple moving average is $1.97. Phio Pharmaceuticals has a 52-week low of $0.97 and a 52-week high of $9.79. The firm has a market cap of $11.98 million, a PE ratio of -0.64 and a beta of 0.86.

Phio Pharmaceuticals (NASDAQ:PHIO) last announced its earnings results on Thursday, August 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.09). As a group, equities research analysts predict that Phio Pharmaceuticals will post -8.54 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC raised its position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,694 shares of the company’s stock after purchasing an additional 16,108 shares during the period. Geode Capital Management LLC owned 1.20% of Phio Pharmaceuticals worth $136,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 57.31% of the company’s stock.

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.