Short Interest in Phio Pharmaceuticals Corp (NASDAQ:PHIO) Declines By 10.9%

Phio Pharmaceuticals Corp (NASDAQ:PHIO) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 783,300 shares, a drop of 10.9% from the May 30th total of 879,100 shares. Based on an average daily volume of 294,300 shares, the short-interest ratio is currently 2.7 days. Approximately 4.7% of the shares of the company are sold short.

Separately, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd.

An institutional investor recently bought a new position in Phio Pharmaceuticals stock. Virtu Financial LLC purchased a new position in Phio Pharmaceuticals Corp (NASDAQ:PHIO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 238,544 shares of the company’s stock, valued at approximately $107,000. Virtu Financial LLC owned approximately 1.07% of Phio Pharmaceuticals at the end of the most recent quarter. 5.51% of the stock is currently owned by institutional investors.

NASDAQ:PHIO remained flat at $$0.39 on Friday. The company’s stock had a trading volume of 54,971 shares, compared to its average volume of 119,890. The firm has a market cap of $9.20 million, a PE ratio of -0.37 and a beta of 1.84. 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 business has a 50-day simple moving average of $0.40. Phio Pharmaceuticals has a fifty-two week low of $0.27 and a fifty-two week high of $2.36.

Phio Pharmaceuticals (NASDAQ:PHIO) last announced its earnings results on Tuesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $0.02 million during the quarter. As a group, equities analysts forecast that Phio Pharmaceuticals will post -0.36 earnings per share for the current fiscal year.

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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