Phio Pharmaceuticals (NASDAQ:PHIO) Stock: Insider Robert Bitterman Purchases 25,000 Shares

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) CEO Robert Bitterman bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average cost of $0.82 per share, for a total transaction of $20,500.00. Following the completion of the transaction, the chief executive officer directly owned 789,871 shares in the company, valued at approximately $647,694.22. This trade represents a 3.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Phio Pharmaceuticals Price Performance

PHIO stock opened at $0.81 on Thursday. The stock has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.08. Phio Pharmaceuticals Corp. has a 12-month low of $0.75 and a 12-month high of $1.88.

Phio Pharmaceuticals (NASDAQ:PHIO) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.36) EPS for the quarter, hitting the consensus estimate of ($0.36). As a group, sell-side analysts forecast that Phio Pharmaceuticals Corp. will post -1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PHIO. HC Wainwright reiterated a “buy” rating on shares of Phio Pharmaceuticals in a report on Wednesday, August 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.00.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a biotechnology company focused on developing cancer immunotherapies. The company’s programs are designed to enhance the immune system’s ability to recognize and destroy tumor cells, with an emphasis on treatments that may be administered directly to the tumor or used in combination with other therapies. Phio’s research is based on its INTASYL self-delivering RNA interference (RNAi) technology. The platform is intended to selectively silence genes involved in immune suppression and cancer progression without requiring a separate delivery vehicle.