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

Phio Pharmaceuticals (NASDAQ:PHIO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $4.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 132.56% from the stock’s current price.

Phio Pharmaceuticals Trading Down 1.1 %

Phio Pharmaceuticals stock opened at $1.72 on Wednesday. The business’s fifty day simple moving average is $2.24 and its two-hundred day simple moving average is $2.67. Phio Pharmaceuticals has a 12 month low of $1.53 and a 12 month high of $10.35. The company has a market capitalization of $11.85 million, a price-to-earnings ratio of -0.16 and a beta of 1.53.

Institutional Investors Weigh In On Phio Pharmaceuticals

An institutional investor recently bought a new position in Phio Pharmaceuticals stock. Virtu Financial LLC purchased a new position in Phio Pharmaceuticals Corp. (NASDAQ:PHIO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned about 0.59% of Phio Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 57.31% of the company’s stock.

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.