HC Wainwright Trims Phio Pharmaceuticals (NASDAQ:PHIO) Target Price to $4.00

Phio Pharmaceuticals (NASDAQ:PHIOFree Report) had its target price lowered by HC Wainwright from $6.00 to $4.00 in a report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Phio Pharmaceuticals Trading Up 4.4 %

NASDAQ PHIO opened at $0.61 on Tuesday. The firm’s 50 day moving average price is $0.78 and its 200-day moving average price is $1.42. Phio Pharmaceuticals has a 52-week low of $0.50 and a 52-week high of $12.27.

Phio Pharmaceuticals (NASDAQ:PHIOGet Free Report) last released its quarterly earnings data on Thursday, November 9th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.29. As a group, research analysts expect that Phio Pharmaceuticals will post -5.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phio Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Phio Pharmaceuticals by 6.8% in the first quarter. Vanguard Group Inc. now owns 304,119 shares of the company’s stock valued at $269,000 after acquiring an additional 19,242 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Phio Pharmaceuticals by 465.9% in the second quarter. Renaissance Technologies LLC now owns 234,849 shares of the company’s stock valued at $165,000 after acquiring an additional 193,349 shares in the last quarter. Cetera Investment Advisers boosted 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 acquiring an additional 50,000 shares in the last quarter. Anson Funds Management LP acquired a new stake in Phio Pharmaceuticals in the second quarter valued at approximately $65,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Phio Pharmaceuticals in the first quarter valued at approximately $80,000. 12.38% of the stock is currently owned by institutional investors and hedge funds.

Phio Pharmaceuticals Company Profile

(Get Free Report)

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.

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