StockNews.com Begins Coverage on Inovio Pharmaceuticals (NASDAQ:INO)

Posted by on Jun 21st, 2023

StockNews.com started coverage on shares of Inovio Pharmaceuticals (NASDAQ:INO – Get Rating) in a note issued to investors on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, Royal Bank of Canada dropped their target price on shares of Inovio Pharmaceuticals from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, Inovio Pharmaceuticals has an average rating of “Hold” and a consensus target price of $2.00.

Inovio Pharmaceuticals Price Performance

Shares of INO opened at $0.50 on Wednesday. The stock has a 50-day moving average of $0.70 and a 200-day moving average of $1.17. The company has a market cap of $131.37 million, a PE ratio of -0.51 and a beta of 1.07. Inovio Pharmaceuticals has a one year low of $0.43 and a one year high of $2.82.

Inovio Pharmaceuticals (NASDAQ:INO – Get Rating) last announced its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). Inovio Pharmaceuticals had a negative net margin of 2,371.71% and a negative return on equity of 97.93%. The business had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.20 million. During the same period in the previous year, the business posted ($0.36) EPS. Analysts expect that Inovio Pharmaceuticals will post -0.55 EPS for the current fiscal year.

Institutional Trading of Inovio Pharmaceuticals

A number of hedge funds have recently made changes to their positions in INO. MetLife Investment Management LLC lifted its stake in Inovio Pharmaceuticals by 56.5% in the first quarter. MetLife Investment Management LLC now owns 114,358 shares of the biopharmaceutical company’s stock worth $411,000 after purchasing an additional 41,285 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Inovio Pharmaceuticals by 1.9% during the first quarter. Vanguard Group Inc. now owns 11,247,922 shares of the biopharmaceutical company’s stock valued at $40,381,000 after acquiring an additional 208,609 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Inovio Pharmaceuticals by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,530,604 shares of the biopharmaceutical company’s stock valued at $5,495,000 after acquiring an additional 54,889 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Inovio Pharmaceuticals during the first quarter valued at about $1,414,000. Finally, Hsbc Holdings PLC raised its stake in shares of Inovio Pharmaceuticals by 15.7% during the first quarter. Hsbc Holdings PLC now owns 47,672 shares of the biopharmaceutical company’s stock valued at $171,000 after acquiring an additional 6,475 shares during the last quarter. 46.33% of the stock is owned by institutional investors.

Inovio Pharmaceuticals Company Profile

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Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.

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