HC Wainwright Reiterates “Buy” Rating for Phio Pharmaceuticals (NASDAQ:PHIO)

HC Wainwright restated their buy rating on shares of Phio Pharmaceuticals (NASDAQ:PHIO) in a research note released on Wednesday morning,Benzinga reports. They currently have a $14.00 price target on the stock.

Phio Pharmaceuticals Price Performance

Shares of NASDAQ:PHIO opened at $2.17 on Wednesday. Phio Pharmaceuticals has a fifty-two week low of $0.97 and a fifty-two week high of $9.79. The business has a 50-day moving average of $2.13 and a two-hundred day moving average of $1.98. The stock has a market capitalization of $10.42 million, a P/E ratio of -0.20 and a beta of 0.84.

Hedge Funds Weigh In On Phio Pharmaceuticals

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) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned approximately 0.59% of Phio Pharmaceuticals at the end of the most recent quarter. Institutional investors own 57.31% of the company’s stock.

Phio Pharmaceuticals Company Profile

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.