Phio Pharmaceuticals (NASDAQ:PHIO) Sees Unusually-High Trading Volume

Phio Pharmaceuticals Corp (NASDAQ:PHIO) saw strong trading volume on Tuesday . 702,619 shares changed hands during mid-day trading, an increase of 86% from the previous session’s volume of 378,056 shares.The stock last traded at $0.34 and had previously closed at $0.32.

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

The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $8.70 million, a price-to-earnings ratio of -0.33 and a beta of 1.75. The stock has a fifty day moving average price of $0.35.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its earnings results on Monday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Equities research analysts forecast that Phio Pharmaceuticals Corp will post -0.36 EPS for the current year.

An institutional investor recently raised its position in Phio Pharmaceuticals stock. Citadel Advisors LLC grew its position in Phio Pharmaceuticals Corp (NASDAQ:PHIO) by 148.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 85,621 shares of the company’s stock after buying an additional 51,216 shares during the period. Citadel Advisors LLC owned approximately 0.36% of Phio Pharmaceuticals worth $33,000 as of its most recent SEC filing. 5.27% of the stock is currently owned by institutional investors.

Phio Pharmaceuticals Company Profile (NASDAQ:PHIO)

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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