Phio Pharmaceuticals (NASDAQ:PHIO) Shares Down 0.4% – Here’s What Happened

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) shares traded down 0.4% during trading on Tuesday . The stock traded as low as $2.30 and last traded at $2.35. 52,192 shares traded hands during trading, a decline of 68% from the average session volume of 162,972 shares. The stock had previously closed at $2.36.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Saturday, September 27th. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Phio Pharmaceuticals in a research note on Friday, August 15th. Finally, Wall Street Zen upgraded Phio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.00.

Phio Pharmaceuticals Trading Down 0.4%

The firm has a 50-day moving average of $2.20 and a 200-day moving average of $2.12. The stock has a market capitalization of $13.47 million, a price-to-earnings ratio of -0.72 and a beta of 0.95.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.09). On average, equities research analysts anticipate that Phio Pharmaceuticals Corp. will post -8.54 EPS for the current year.

Hedge Funds Weigh In On Phio Pharmaceuticals

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC lifted its holdings in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,694 shares of the company’s stock after acquiring an additional 16,108 shares during the quarter. Geode Capital Management LLC owned 1.20% of Phio Pharmaceuticals worth $136,000 as of its most recent SEC filing. 57.31% of the stock is 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.