HC Wainwright Reiterates “Buy” Rating for Phio Pharmaceuticals (NASDAQ:PHIO)

HC Wainwright restated their buy rating on shares of Phio Pharmaceuticals (NASDAQ:PHIO) in a report issued on Wednesday morning,Benzinga reports. They currently have a $4.00 price target on the stock. HC Wainwright also issued estimates for Phio Pharmaceuticals’ Q4 2024 earnings at ($1.23) EPS, FY2024 earnings at ($8.54) EPS and FY2025 earnings at $3.76 EPS.

Phio Pharmaceuticals Price Performance

Shares of PHIO stock opened at $1.67 on Wednesday. The business’s 50 day simple moving average is $2.24 and its 200 day simple moving average is $2.67. Phio Pharmaceuticals has a one year low of $1.53 and a one year high of $10.35. The stock has a market capitalization of $11.51 million, a PE ratio of -0.15 and a beta of 1.53.

Hedge Funds Weigh In On Phio Pharmaceuticals

A hedge fund recently bought a new stake in Phio Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Phio Pharmaceuticals Corp. (NASDAQ:PHIO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned approximately 0.59% of Phio Pharmaceuticals as of its most recent filing with the SEC. 57.31% of the stock is currently owned by institutional investors and hedge funds.

Phio Pharmaceuticals Company Profile

Phio Pharmaceuticals Corp. engages in the development of immuno-oncology therapeutics in the United States. The company is developing PH-762, an INTASYL compound in Phase 1b dose-escalating clinical trials to reduce the expression of cell death protein 1 (PD-1), a protein that inhibits T cells’ ability to kill cancer cells; and PH-762 treated double positive tumor infiltrating lymphocytes, which is in Phase 1 clinical trials to treat advanced melanoma and other advanced solid tumors.