Phio Pharmaceuticals (NASDAQ:PHIO) Releases Quarterly Earnings Results, Meets Estimates

Phio Pharmaceuticals (NASDAQ:PHIO) announced its quarterly earnings results on Thursday. The company reported ($0.36) EPS for the quarter, hitting the consensus estimate of ($0.36), FiscalAI reports.

Phio Pharmaceuticals Stock Performance

Shares of Phio Pharmaceuticals stock traded up $0.00 on Friday, reaching $0.80. The stock had a trading volume of 75,619 shares, compared to its average volume of 69,762. The business’s 50-day moving average price is $0.97 and its two-hundred day moving average price is $1.08. The stock has a market cap of $9.31 million, a P/E ratio of -0.66 and a beta of 0.93. Phio Pharmaceuticals has a fifty-two week low of $0.75 and a fifty-two week high of $1.88.

Wall Street Analyst Weigh In

Several research firms have commented on PHIO. Weiss Ratings reissued a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, October 15th. HC Wainwright reaffirmed a “buy” rating on shares of Phio Pharmaceuticals in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.