Phio Pharmaceuticals Stock to Reverse Split on Friday, July 5th (NASDAQ:PHIO)

Shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) are going to reverse split before the market opens on Friday, July 5th. The 1-9 reverse split was announced on Friday, July 5th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, July 5th.

Phio Pharmaceuticals Stock Performance

Shares of Phio Pharmaceuticals stock traded down $0.03 during midday trading on Wednesday, reaching $0.58. 128,779 shares of the company’s stock traded hands, compared to its average volume of 264,498. The stock has a 50 day moving average of $0.74 and a 200-day moving average of $0.74. The company has a market cap of $2.67 million, a PE ratio of -0.18 and a beta of 1.45. Phio Pharmaceuticals has a 12 month low of $0.50 and a 12 month high of $3.23.

Phio Pharmaceuticals (NASDAQ:PHIO) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.47) earnings per share (EPS) for the quarter. On average, equities analysts anticipate that Phio Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Phio Pharmaceuticals in a research note on Tuesday, May 14th.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp. develops immuno-oncology therapeutics in the United States. The company develops PH-762, INTASYL compound which reduces the expression of cell death Protein 1 (PD-1), a protein that inhibits T cells' ability to kill cancer cells; PH-894 that silences the BRD4, a protein which controls gene expression in both T cells and tumor cells, effecting the immune system as well as the tumor; and PH-804 that targets the TIGIT, a protein which inhibits the activity of Natural Killer cells.