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.
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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