Phio Pharmaceuticals (NASDAQ:PHIO) Posts Earnings Results, Beats Expectations By $0.11 EPS

Phio Pharmaceuticals (NASDAQ:PHIO – Get Rating) released its earnings results on Friday. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11, MarketWatch Earnings reports.

Shares of Phio Pharmaceuticals stock opened at $0.71 on Friday. Phio Pharmaceuticals has a 52 week low of $0.62 and a 52 week high of $2.47. The firm’s 50 day moving average is $0.98 and its two-hundred day moving average is $1.08.

Separately, Zacks Investment Research lowered shares of Phio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday.

A number of institutional investors have recently made changes to their positions in PHIO. Goldman Sachs Group Inc. purchased a new position in Phio Pharmaceuticals in the second quarter valued at approximately $43,000. Geode Capital Management LLC increased its stake in Phio Pharmaceuticals by 22.5% in the third quarter. Geode Capital Management LLC now owns 107,192 shares of the company’s stock valued at $216,000 after purchasing an additional 19,691 shares during the last quarter. Millennium Management LLC increased its stake in Phio Pharmaceuticals by 1,122.7% in the third quarter. Millennium Management LLC now owns 122,693 shares of the company’s stock valued at $248,000 after purchasing an additional 112,658 shares during the last quarter. Two Sigma Advisers LP increased its stake in Phio Pharmaceuticals by 165.8% in the third quarter. Two Sigma Advisers LP now owns 153,100 shares of the company’s stock valued at $311,000 after purchasing an additional 95,500 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Phio Pharmaceuticals by 125.0% in the first quarter. Cetera Investment Advisers now owns 90,000 shares of the company’s stock valued at $80,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors own 13.15% of the company’s stock.

Phio Pharmaceuticals Company Profile (Get Rating)

Phio Pharmaceuticals Corp. develops immuno-oncology therapeutics in the United States. It offers INTASYL therapeutic platform focuses on targeting tumor and immune cells by regulating genes of the immune system. The company develops PH-762 that activates immune cells to recognize and kill cancer cells by reducing the expression of the checkpoint protein PD-1 for immunotherapy in adoptive cell transfer (ACT); PH-894 that silences the epigenetic protein BRD4, which is an intracellular regulator of gene expression for use in ACT; and PH-804 that targets the suppressive immune receptor TIGIT, which is a checkpoint protein present on T cells and natural killer cells for use in ACT.

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