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

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 45,500 shares, a drop of 54.3% from the January 31st total of 99,600 shares. Based on an average daily trading volume, of 6,070,000 shares, the short-interest ratio is presently 0.0 days. Currently, 1.1% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Phio Pharmaceuticals in a research note on Wednesday, February 19th.

Phio Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ:PHIO traded down $0.01 during trading on Friday, reaching $1.42. The stock had a trading volume of 94,555 shares, compared to its average volume of 9,623,802. The stock has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $2.62. The firm has a market capitalization of $9.78 million, a price-to-earnings ratio of -0.13 and a beta of 1.53. Phio Pharmaceuticals has a 52 week low of $1.36 and a 52 week high of $10.35.

Hedge Funds Weigh In On Phio Pharmaceuticals

A hedge fund recently bought a new stake in Phio Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned about 0.59% of Phio Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 57.31% of the company’s stock.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp. engages in the development of immuno-oncology therapeutics in the United States. The company is developing PH-762, an INTASYL compound in Phase 1b dose-escalating clinical trials to reduce the expression of cell death protein 1 (PD-1), a protein that inhibits T cells’ ability to kill cancer cells; and PH-762 treated double positive tumor infiltrating lymphocytes, which is in Phase 1 clinical trials to treat advanced melanoma and other advanced solid tumors.