Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Up 259.3% in February

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the recipient of a large growth in short interest in February. As of February 13th, there was short interest totaling 2,335,588 shares, a growth of 259.3% from the January 29th total of 650,035 shares. Based on an average daily trading volume, of 20,308,761 shares, the days-to-cover ratio is currently 0.1 days. Approximately 21.9% of the company’s stock are short sold. Approximately 21.9% of the company’s stock are short sold. Based on an average daily trading volume, of 20,308,761 shares, the days-to-cover ratio is currently 0.1 days.

Phio Pharmaceuticals Price Performance

NASDAQ PHIO traded down $0.01 during trading on Thursday, reaching $1.04. 42,724 shares of the company’s stock were exchanged, compared to its average volume of 5,907,930. Phio Pharmaceuticals has a fifty-two week low of $0.81 and a fifty-two week high of $4.19. The stock has a market capitalization of $11.21 million, a P/E ratio of -0.48 and a beta of 0.94. The business has a 50 day moving average price of $1.11 and a 200-day moving average price of $1.60.

Hedge Funds Weigh In On Phio Pharmaceuticals

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Geode Capital Management LLC boosted its holdings in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 60.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,638 shares of the company’s stock after purchasing an additional 34,732 shares during the quarter. Geode Capital Management LLC owned 0.86% of Phio Pharmaceuticals worth $97,000 at the end of the most recent reporting period. 57.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PHIO shares. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Phio Pharmaceuticals in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.00.

Phio Pharmaceuticals Company Profile

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.