Phio Pharmaceuticals Corp (NASDAQ:PHIO) Sees Large Increase in Short Interest

Phio Pharmaceuticals Corp (NASDAQ:PHIO) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totalling 42,800 shares, a growth of 664.3% from the February 27th total of 5,600 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average trading volume of 603,500 shares, the short-interest ratio is currently 0.1 days.

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG raised its holdings in Phio Pharmaceuticals by 43.3% in the fourth quarter. UBS Group AG now owns 45,409 shares of the company’s stock valued at $427,000 after acquiring an additional 13,714 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Phio Pharmaceuticals by 585.9% in the fourth quarter. Renaissance Technologies LLC now owns 333,890 shares of the company’s stock valued at $57,000 after acquiring an additional 285,213 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Phio Pharmaceuticals by 16.9% in the third quarter. SG Americas Securities LLC now owns 705,353 shares of the company’s stock valued at $194,000 after acquiring an additional 101,825 shares in the last quarter.

PHIO traded up $0.02 during trading on Thursday, hitting $2.32. The company had a trading volume of 149,000 shares, compared to its average volume of 246,962. The company has a market cap of $1.37 million, a PE ratio of -0.12 and a beta of 1.96. The business has a 50-day moving average of $3.49 and a 200-day moving average of $1.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.56 and a quick ratio of 4.56. Phio Pharmaceuticals has a 1-year low of $2.01 and a 1-year high of $28.87.

Separately, ValuEngine cut shares of Phio Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 3rd.

About Phio Pharmaceuticals

Phio Pharmaceuticals Corp., a biotechnology company, focuses on discovering and developing immuno-oncology therapeutics to treat cancer. The company's lead product candidate is RXI-109, an sd-rxRNA that reduces the expression of connective tissue growth factor, a critical regulator of several biological pathways involved in fibrosis, including scar formation in the skin and eye.

Featured Story: Profit margin is different from the revenue

Receive News & Ratings for Phio Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phio Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.