Phio Pharmaceuticals Corp. Forecasted to Post FY2023 Earnings of ($6.26) Per Share (NASDAQ:PHIO)

Phio Pharmaceuticals Corp. (NASDAQ:PHIOFree Report) – Research analysts at HC Wainwright cut their FY2023 earnings per share (EPS) estimates for Phio Pharmaceuticals in a research note issued on Tuesday, February 6th. HC Wainwright analyst V. Bernardino now expects that the company will post earnings of ($6.26) per share for the year, down from their previous forecast of ($5.62). HC Wainwright has a “Buy” rating and a $4.00 price objective on the stock. The consensus estimate for Phio Pharmaceuticals’ current full-year earnings is ($5.62) per share. HC Wainwright also issued estimates for Phio Pharmaceuticals’ Q4 2023 earnings at ($1.30) EPS and FY2024 earnings at ($3.56) EPS.

Phio Pharmaceuticals (NASDAQ:PHIOGet Free Report) last released its quarterly earnings results on Thursday, November 9th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.43) by $0.29.

Phio Pharmaceuticals Stock Up 2.9 %

PHIO opened at $0.61 on Thursday. Phio Pharmaceuticals has a 52 week low of $0.50 and a 52 week high of $12.27. The business’s 50 day moving average is $0.76 and its two-hundred day moving average is $1.40.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in shares of Phio Pharmaceuticals in the second quarter valued at approximately $38,000. Cetera Investment Advisers purchased a new stake in shares of Phio Pharmaceuticals in the second quarter valued at approximately $31,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Phio Pharmaceuticals in the first quarter valued at approximately $80,000. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 19,242 shares in the last quarter. Finally, Anson Funds Management LP purchased a new stake in shares of Phio Pharmaceuticals in the second quarter valued at approximately $65,000. Institutional investors and hedge funds own 12.38% of the company’s stock.

Phio Pharmaceuticals Company Profile

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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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