Phio Pharmaceuticals Corp (NASDAQ:PHIO) Sees Large Increase in Short Interest

Phio Pharmaceuticals Corp (NASDAQ:PHIO) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totalling 42,800 shares, a growth of 664.3% from the February 27th total of 5,600 shares. Approximately 6.5% of the shares of the stock are sold short. Based on an average daily volume of 603,500 shares, the short-interest ratio is presently 0.1 days.

Shares of NASDAQ PHIO traded up $0.02 during midday trading on Thursday, hitting $2.32. The company had a trading volume of 149,000 shares, compared to its average volume of 246,962. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.06. Phio Pharmaceuticals has a twelve month low of $2.01 and a twelve month high of $28.87. The business has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $1.96. The firm has a market capitalization of $1.37 million, a price-to-earnings ratio of -0.12 and a beta of 1.96.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG raised its position in Phio Pharmaceuticals by 43.3% during the fourth quarter. UBS Group AG now owns 45,409 shares of the company’s stock worth $427,000 after acquiring an additional 13,714 shares during the last quarter. Renaissance Technologies LLC raised its position in Phio Pharmaceuticals by 585.9% during the fourth quarter. Renaissance Technologies LLC now owns 333,890 shares of the company’s stock worth $57,000 after acquiring an additional 285,213 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Phio Pharmaceuticals by 16.9% during the third quarter. SG Americas Securities LLC now owns 705,353 shares of the company’s stock worth $194,000 after acquiring an additional 101,825 shares during the last quarter.

Separately, ValuEngine cut shares of Phio Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 3rd.

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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