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

Phio Pharmaceuticals Corp (NASDAQ:PHIO) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 587,600 shares, a drop of 18.3% from the June 30th total of 718,900 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 195,800 shares, the short-interest ratio is currently 3.0 days.

PHIO stock remained flat at $$0.35 during midday trading on Thursday. The company’s stock had a trading volume of 163,051 shares, compared to its average volume of 414,003. The firm’s 50-day moving average is $0.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.52 and a current ratio of 8.52. The firm has a market capitalization of $8.36 million, a PE ratio of -0.34 and a beta of 1.83. Phio Pharmaceuticals has a 12 month low of $0.27 and a 12 month high of $2.19.

Phio Pharmaceuticals (NASDAQ:PHIO) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Analysts anticipate that Phio Pharmaceuticals will post -0.36 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC lifted its holdings in Phio Pharmaceuticals by 148.9% in the 2nd quarter. Citadel Advisors LLC now owns 85,621 shares of the company’s stock valued at $33,000 after purchasing an additional 51,216 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Phio Pharmaceuticals by 39.8% in the 1st quarter. SG Americas Securities LLC now owns 228,825 shares of the company’s stock valued at $103,000 after purchasing an additional 65,095 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Phio Pharmaceuticals in the 1st quarter valued at $107,000. Institutional investors own 7.08% of the company’s stock.

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

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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