Phio Pharmaceuticals (NASDAQ:PHIO) Stock Price Down 2.7% – Here’s What Happened

by · The Markets Daily

Phio Pharmaceuticals Corp. (NASDAQ:PHIO – Get Free Report)’s share price traded down 2.7% during mid-day trading on Monday . The stock traded as low as $1.0750 and last traded at $1.09. 118,928 shares traded hands during trading, a decline of 69% from the average session volume of 389,273 shares. The stock had previously closed at $1.12.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

Get Our Latest Report on PHIO

Phio Pharmaceuticals Trading Down 2.7%

The stock has a market cap of $11.73 million, a PE ratio of -0.51 and a beta of 0.92. The business’s 50-day moving average price is $1.65 and its 200-day moving average price is $2.07.

Phio Pharmaceuticals (NASDAQ:PHIO – Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.01. As a group, analysts predict that Phio Pharmaceuticals Corp. will post -8.54 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC grew its holdings in Phio Pharmaceuticals Corp. (NASDAQ:PHIO – Free Report) by 38.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 57.31% of the company’s stock.

Phio Pharmaceuticals Company Profile

(Get Free Report)

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.

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