Short Interest in Phio Pharmaceuticals Corp (NASDAQ:PHIO) Declines By 10.9%

Phio Pharmaceuticals Corp (NASDAQ:PHIO) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 783,300 shares, a decrease of 10.9% from the May 30th total of 879,100 shares. Based on an average daily volume of 294,300 shares, the days-to-cover ratio is presently 2.7 days. Currently, 4.7% of the company’s shares are sold short.

Separately, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

An institutional investor recently bought a new position in Phio Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in shares of Phio Pharmaceuticals Corp (NASDAQ:PHIO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 238,544 shares of the company’s stock, valued at approximately $107,000. Virtu Financial LLC owned 1.07% of Phio Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 5.51% of the company’s stock.

Shares of NASDAQ:PHIO remained flat at $$0.39 during trading on Friday. The stock had a trading volume of 54,971 shares, compared to its average volume of 119,890. The company has a market cap of $9.20 million, a PE ratio of -0.37 and a beta of 1.84. Phio Pharmaceuticals has a 52-week low of $0.27 and a 52-week high of $2.36. The company has a quick ratio of 8.52, a current ratio of 8.52 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $0.40.

Phio Pharmaceuticals (NASDAQ:PHIO) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $0.02 million during the quarter. As a group, equities analysts expect that Phio Pharmaceuticals will post -0.36 earnings per share for the current fiscal year.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp., a biotechnology company, focuses on discovering and developing immuno-oncology therapeutics to treat cancer. The company's lead product candidate is RXI-109, an sd-rxRNA that reduces the expression of connective tissue growth factor, a critical regulator of several biological pathways involved in fibrosis, including scar formation in the skin and eye.

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