Phio Pharmaceuticals (NASDAQ:PHIO) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Phio Pharmaceuticals (NASDAQ:PHIO) from a buy rating to a hold rating in a report issued on Wednesday morning, ValuEngine reports.

NASDAQ:PHIO traded up $0.27 during midday trading on Wednesday, reaching $9.76. 3,020 shares of the stock traded hands, compared to its average volume of 2,890,249. Phio Pharmaceuticals has a 12-month low of $5.64 and a 12-month high of $28.87. The business has a 50-day moving average of $0.35 and a two-hundred day moving average of $0.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.56 and a current ratio of 4.56. The stock has a market capitalization of $6.96 million, a PE ratio of -9.38 and a beta of 1.56.

Phio Pharmaceuticals (NASDAQ:PHIO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.08) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.08). Research analysts anticipate that Phio Pharmaceuticals will post -0.34 earnings per share for the current year.

An institutional investor recently raised its position in Phio Pharmaceuticals stock. SG Americas Securities LLC boosted its position in shares of Phio Pharmaceuticals Corp (NASDAQ:PHIO) by 16.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 705,353 shares of the company’s stock after acquiring an additional 101,825 shares during the period. SG Americas Securities LLC owned 2.76% of Phio Pharmaceuticals worth $194,000 as of its most recent filing with the Securities & Exchange Commission. 2.65% of the stock is owned by institutional investors.

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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