Phio Pharmaceuticals Corp (NASDAQ:PHIO) Sees Large Decline in Short Interest

Phio Pharmaceuticals Corp (NASDAQ:PHIO) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 282,600 shares, a decrease of 51.9% from the July 31st total of 587,600 shares. Based on an average trading volume of 185,800 shares, the short-interest ratio is presently 1.5 days. Currently, 1.2% of the shares of the company are short sold.

Separately, ValuEngine upgraded shares of Phio Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd.

PHIO traded down $0.01 on Friday, hitting $0.31. 17,800 shares of the stock were exchanged, compared to its average volume of 378,031. Phio Pharmaceuticals has a 12 month low of $0.27 and a 12 month high of $2.19. The company has a 50-day moving average of $0.36. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $8.06 million, a price-to-earnings ratio of -0.31 and a beta of 1.75.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). On average, equities analysts expect that Phio Pharmaceuticals will post -0.36 earnings per share for the current year.

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Citadel Advisors LLC increased its position in shares of Phio Pharmaceuticals Corp (NASDAQ:PHIO) by 148.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,621 shares of the company’s stock after purchasing an additional 51,216 shares during the quarter. Citadel Advisors LLC owned 0.36% of Phio Pharmaceuticals worth $33,000 at the end of the most recent reporting period. 5.27% of the stock is owned by institutional investors and hedge funds.

Phio Pharmaceuticals Company Profile

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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