Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Sees Large Increase in Short Interest

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 650,035 shares, an increase of 36.8% from the January 15th total of 475,269 shares. Approximately 6.1% of the shares of the company are short sold. Based on an average trading volume of 331,338 shares, the short-interest ratio is currently 2.0 days. Based on an average trading volume of 331,338 shares, the short-interest ratio is currently 2.0 days. Approximately 6.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several brokerages have commented on PHIO. Weiss Ratings reissued a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Thursday, January 22nd. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Phio Pharmaceuticals in a research report on Tuesday, February 10th. Finally, Wall Street Zen cut Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.00.

Phio Pharmaceuticals Price Performance

PHIO traded down $0.13 during trading on Tuesday, hitting $1.53. 2,387,844 shares of the stock traded hands, compared to its average volume of 6,998,879. The firm has a market capitalization of $16.41 million, a P/E ratio of -0.71 and a beta of 0.94. Phio Pharmaceuticals has a 12-month low of $0.81 and a 12-month high of $4.19. The firm has a 50-day moving average of $1.10 and a 200 day moving average of $1.65.

Hedge Funds Weigh In On Phio Pharmaceuticals

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% during the 2nd quarter, according to the company in its most recent 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 approximately 1.20% of Phio Pharmaceuticals worth $136,000 at the end of the most recent quarter. 57.31% of the stock is owned by institutional investors.

About Phio Pharmaceuticals

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.