Phio Pharmaceuticals (NASDAQ:PHIO) Issues Quarterly Earnings Results

by · The Cerbat Gem

Phio Pharmaceuticals (NASDAQ:PHIO – Get Free Report) announced its earnings results on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, FiscalAI reports.

Phio Pharmaceuticals Price Performance

Phio Pharmaceuticals stock traded down $0.07 during trading hours on Friday, hitting $1.07. 323,552 shares of the stock traded hands, compared to its average volume of 142,411. The firm’s 50 day moving average price is $1.21 and its 200-day moving average price is $1.26. The stock has a market capitalization of $12.43 million, a price-to-earnings ratio of -0.74 and a beta of 0.84. Phio Pharmaceuticals has a 1 year low of $0.81 and a 1 year high of $4.19.

Analyst Upgrades and Downgrades

PHIO has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Phio Pharmaceuticals in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Phio Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $14.00.

Read Our Latest Analysis on Phio Pharmaceuticals

Institutional Trading of Phio Pharmaceuticals

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Cetera Investment Advisers lifted its stake in Phio Pharmaceuticals Corp. (NASDAQ:PHIO – Free Report) by 26.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,500 shares of the company’s stock after buying an additional 9,000 shares during the quarter. Cetera Investment Advisers owned approximately 0.39% of Phio Pharmaceuticals worth $45,000 as of its most recent SEC filing. Institutional investors own 57.31% of the company’s stock.

About Phio Pharmaceuticals

(Get Free Report)

Phio Pharmaceuticals, Inc (NASDAQ: PHIO) is a clinical‐stage biotechnology company focused on the discovery and development of dual RNA interference (RNAi) therapeutics. Utilizing its proprietary Transitional RNAi (TRiMTM) platform, Phio aims to simultaneously silence multiple gene targets to achieve enhanced therapeutic activity. The company’s core mission is to advance next‐generation RNAi compounds with potential applications in oncology and immuno‐oncology.

Phio’s TRiMTM platform is designed around the delivery of synthetic, double‐stranded RNA duplexes that can be engineered to target specific combinations of genes implicated in tumor growth and immune evasion.

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