Phio Pharmaceuticals’ (PHIO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Phio Pharmaceuticals (NASDAQ:PHIO) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $14.00 price objective on the stock.

Several other brokerages also recently commented on PHIO. Wall Street Zen downgraded Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phio Pharmaceuticals in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.00.

Phio Pharmaceuticals Price Performance

NASDAQ PHIO opened at $1.22 on Tuesday. The business has a fifty day moving average price of $1.09 and a two-hundred day moving average price of $1.68. Phio Pharmaceuticals has a fifty-two week low of $0.81 and a fifty-two week high of $4.19. The stock has a market capitalization of $13.13 million, a PE ratio of -0.57 and a beta of 0.94.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.01. As a group, sell-side analysts expect that Phio Pharmaceuticals will post -8.54 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Phio Pharmaceuticals stock. Geode Capital Management LLC lifted its stake in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) by 38.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,694 shares of the company’s stock after acquiring an additional 16,108 shares during the quarter. Geode Capital Management LLC owned approximately 1.20% of Phio Pharmaceuticals worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 57.31% of the stock is owned by institutional investors and hedge funds.

About Phio Pharmaceuticals

Phio Pharmaceuticals, Inc (NASDAQ: PHIO) is a clinical‐stage biotechnology company focused on the discovery and development of dual RNA interference (RNAi) therapeutics. Utilizing its proprietary Transitional RNAi (TRiMTM) platform, Phio aims to simultaneously silence multiple gene targets to achieve enhanced therapeutic activity. The company’s core mission is to advance next‐generation RNAi compounds with potential applications in oncology and immuno‐oncology.

Phio’s TRiMTM platform is designed around the delivery of synthetic, double‐stranded RNA duplexes that can be engineered to target specific combinations of genes implicated in tumor growth and immune evasion.