Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Stock Short Interest Declines 40.3%

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 89,454 shares, a decrease of 40.3% from the September 15th total of 149,890 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 114,595 shares, the days-to-cover ratio is currently 0.8 days.

Phio Pharmaceuticals Price Performance

PHIO traded down $0.05 on Friday, reaching $0.87. The company’s stock had a trading volume of 91,131 shares, compared to its average volume of 1,422,708. The business’s 50 day moving average is $1.05 and its 200 day moving average is $1.09. Phio Pharmaceuticals has a 1 year low of $0.81 and a 1 year high of $4.19. The stock has a market cap of $10.12 million, a price-to-earnings ratio of -0.68 and a beta of 0.84.

Phio Pharmaceuticals (NASDAQ:PHIO) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.36). As a group, research analysts forecast that Phio Pharmaceuticals will post -1.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PHIO has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating on shares of Phio Pharmaceuticals in a research note on Wednesday, August 26th. One investment 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.com, the stock currently has an average rating of “Hold” and an average price target of $14.00.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals Corp. is a clinical-stage biotechnology company focused on developing immuno-oncology treatments based on its INTASYL self-delivering RNAi technology. The platform is designed to enable small interfering RNA (siRNA) molecules to enter cells without the use of conventional delivery vehicles and to reduce the expression of selected genes involved in cancer biology and immune-system activity.

The company’s pipeline has included product candidates intended to improve the ability of immune cells to recognize and destroy tumors.