Phio Pharmaceuticals (NASDAQ:PHIO) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Phio Pharmaceuticals (NASDAQ:PHIO) in a report issued on Wednesday morning,Benzinga reports. HC Wainwright currently has a $4.00 target price on the stock.

Phio Pharmaceuticals Stock Up 2.4 %

Shares of Phio Pharmaceuticals stock opened at $1.74 on Wednesday. The company has a market cap of $11.99 million, a price-to-earnings ratio of -0.16 and a beta of 1.53. The company’s 50 day moving average is $2.25 and its 200 day moving average is $2.68. Phio Pharmaceuticals has a twelve month low of $1.53 and a twelve month high of $10.35.

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 fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,910 shares of the company’s stock, valued at approximately $74,000. Virtu Financial LLC owned 0.59% of Phio Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 57.31% of the company’s stock.

About Phio Pharmaceuticals

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.