Phio Pharmaceuticals (NASDAQ:PHIO) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Phio Pharmaceuticals (NASDAQ:PHIOGet Rating) from a hold rating to a sell rating in a research report report published on Saturday, Zacks.com reports.

According to Zacks, “Phio Pharmaceuticals Corp is focused on developing immuno-oncology therapeutics based on its proprietary self-delivering RNAi therapeutic platform. The Company’s pipeline consists of RXI-762 and RXI-804 which are in clinical stage. Phio Pharmaceuticals Corp, formerly known as RXi Pharmaceuticals Corporation, is based in Marlborough, United States. “

Shares of PHIO opened at $0.66 on Friday. The company has a market cap of $8.99 million, a PE ratio of -0.72 and a beta of 1.68. The business has a fifty day moving average of $0.98 and a 200 day moving average of $1.06. Phio Pharmaceuticals has a 52-week low of $0.62 and a 52-week high of $2.47.

Phio Pharmaceuticals (NASDAQ:PHIOGet Rating) last issued its quarterly earnings results on Friday, May 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. On average, sell-side analysts anticipate that Phio Pharmaceuticals will post 0.89 EPS for the current year.

Several large investors have recently added to or reduced their stakes in PHIO. Goldman Sachs Group Inc. purchased a new position in Phio Pharmaceuticals in the second quarter valued at about $43,000. Vanguard Group Inc. raised its holdings 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 worth $269,000 after buying an additional 19,242 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Phio Pharmaceuticals by 22.5% in the third quarter. Geode Capital Management LLC now owns 107,192 shares of the company’s stock worth $216,000 after buying an additional 19,691 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Phio Pharmaceuticals in the third quarter worth $61,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Phio Pharmaceuticals by 310.9% in the first quarter. Renaissance Technologies LLC now owns 41,500 shares of the company’s stock worth $37,000 after buying an additional 31,400 shares during the last quarter. Institutional investors and hedge funds own 13.15% of the company’s stock.

About Phio Pharmaceuticals (Get Rating)

Phio Pharmaceuticals Corp. develops immuno-oncology therapeutics in the United States. It offers INTASYL therapeutic platform focuses on targeting tumor and immune cells by regulating genes of the immune system. The company develops PH-762 that activates immune cells to recognize and kill cancer cells by reducing the expression of the checkpoint protein PD-1 for immunotherapy in adoptive cell transfer (ACT); PH-894 that silences the epigenetic protein BRD4, which is an intracellular regulator of gene expression for use in ACT; and PH-804 that targets the suppressive immune receptor TIGIT, which is a checkpoint protein present on T cells and natural killer cells for use in ACT.

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