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Phio Pharmaceuticals Corp. (NASDAQ: PHIO): Getting A Free Pass?

Phio Pharmaceuticals Corp. (NASDAQ:PHIO) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -2.30% to the previous day’s close as strong demand from buyers drove the stock to $4.24.

Actively observing the price movement in the last trading, the stock closed the session at $4.34, falling within a range of $4.01 and $5.29. Referring to stock’s 52-week performance, its high was $12.27, and the low was $3.11. On the whole, PHIO has fluctuated by 26.57% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to $0 for fiscal year $19.68 and then to about $0 by fiscal year 2024.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PHIO’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PHIO currently trading nearly 8.09% and -10.73% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.91, while the 7-day volatility ratio is showing 30.39% which for the 30-day chart, stands at 14.39%. Furthermore, Phio Pharmaceuticals Corp. (PHIO)’s beta value is 1.44, and its average true range (ATR) is 0.73.

Data on historical trading for Phio Pharmaceuticals Corp. (NASDAQ:PHIO) indicates that the trading volumes over the past 10 days have averaged 2.84 million and over the past 3 months, they’ve averaged 553.15K. According to company’s latest data on outstanding shares, there are 1.14 million shares outstanding.

Nearly 0.90% of Phio Pharmaceuticals Corp.’s shares belong to company insiders and institutional investors own 5.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 29880.0 shares as on Apr 27, 2023, resulting in a short ratio of 0.1. According to the data, the short interest in Phio Pharmaceuticals Corp. (PHIO) stood at 1.99% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 18500.0. The stock has fallen by -5.02% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PHIO stock heading into the next quarter.

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