Phio Pharmaceuticals Corp (NASDAQ:PHIO) Short Interest Down 18.3% in July

Phio Pharmaceuticals Corp (NASDAQ:PHIO) saw 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. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 195,800 shares, the short-interest ratio is currently 3.0 days.

Shares of PHIO traded down $0.02 during midday trading on Tuesday, reaching $0.34. 456,100 shares of the stock were exchanged, compared to its average volume of 417,858. Phio Pharmaceuticals has a 12-month low of $0.27 and a 12-month high of $2.19. The business has a 50 day simple moving average of $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 cap of $9.06 million, a P/E ratio of -0.33 and a beta of 1.83.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.08) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.08). As a group, sell-side analysts predict that Phio Pharmaceuticals will post -0.36 earnings per share for the current year.

A hedge fund recently bought a new stake in Phio Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in shares of Phio Pharmaceuticals Corp (NASDAQ:PHIO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 238,544 shares of the company’s stock, valued at approximately $107,000. Virtu Financial LLC owned about 1.07% of Phio Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 7.08% of the company’s stock.

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

About Phio Pharmaceuticals

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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