Phio Pharmaceuticals Corp. (NASDAQ:PHIO) Short Interest Up 46.6% in February

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 66,700 shares, an increase of 46.6% from the February 13th total of 45,500 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average trading volume of 6,080,000 shares, the days-to-cover ratio is currently 0.0 days.

Phio Pharmaceuticals Price Performance

Shares of NASDAQ PHIO traded up $0.08 during midday trading on Monday, reaching $1.37. 63,483 shares of the stock were exchanged, compared to its average volume of 7,536,588. The company has a market capitalization of $9.40 million, a price-to-earnings ratio of -0.13 and a beta of 1.28. The business has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $2.51. Phio Pharmaceuticals has a 12 month low of $1.22 and a 12 month high of $9.99.

Analysts Set New Price Targets

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

Institutional Investors 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 the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned 0.59% of Phio Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 57.31% of the stock is currently owned by institutional investors and hedge funds.

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.