Phio Pharmaceuticals (NASDAQ:PHIO) Trading 1% Higher – Here’s Why

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) shares were up 1% during trading on Friday . The company traded as high as $1.06 and last traded at $1.03. 156,564 shares traded hands during trading, an increase of 3% from the average daily volume of 152,262 shares. The stock had previously closed at $1.02.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PHIO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating on shares of Phio Pharmaceuticals in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Phio Pharmaceuticals has an average rating of “Hold” and a consensus target price of $14.00.

Phio Pharmaceuticals Trading Up 1.0%

The stock has a fifty day moving average of $1.07 and a two-hundred day moving average of $1.12. The stock has a market capitalization of $11.97 million, a price-to-earnings ratio of -0.80 and a beta of 0.80.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.36). Equities analysts expect that Phio Pharmaceuticals Corp. will post -1.45 earnings per share for the current year.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a clinical-stage biotechnology company focused on developing immuno-oncology therapies. The company’s research centers on RNA interference (RNAi), a biological process that can reduce the production of specific proteins involved in disease. Phio is developing treatments intended to activate and enhance the body’s immune response against cancer.

The company’s proprietary INTASYL™ platform is designed to deliver small interfering RNA (siRNA) directly into cells without requiring traditional delivery vehicles.