Shares of Inovio Pharmaceuticals Inc (NASDAQ:INO) gapped up before the market opened on Wednesday . The stock had previously closed at $5.06, but opened at $5.03. Inovio Pharmaceuticals shares last traded at $5.07, with a volume of 52630 shares changing hands.
INO has been the topic of a number of research analyst reports. HC Wainwright set a $13.00 price target on shares of Inovio Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Maxim Group cut their price target on shares of Inovio Pharmaceuticals from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Finally, BidaskClub raised shares of Inovio Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $11.59.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.22). Inovio Pharmaceuticals had a negative net margin of 292.06% and a negative return on equity of 72.04%. The company had revenue of $1.53 million for the quarter, compared to analyst estimates of $7.50 million. During the same quarter in the prior year, the company posted ($0.31) EPS. sell-side analysts forecast that Inovio Pharmaceuticals Inc will post -1.2 earnings per share for the current year.
In related news, CEO Jong Joseph Kim sold 103,750 shares of the company’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $5.14, for a total value of $533,275.00. Following the sale, the chief executive officer now owns 2,395,557 shares in the company, valued at approximately $12,313,162.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Weiner sold 9,000 shares of the company’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $4.91, for a total transaction of $44,190.00. Following the completion of the sale, the director now owns 758,956 shares in the company, valued at approximately $3,726,473.96. The disclosure for this sale can be found here. Insiders have sold 116,500 shares of company stock worth $597,078 in the last quarter. Company insiders own 9.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of INO. Guggenheim Capital LLC acquired a new stake in shares of Inovio Pharmaceuticals in the 1st quarter worth about $2,375,000. Renaissance Technologies LLC acquired a new stake in shares of Inovio Pharmaceuticals in the 4th quarter worth about $1,503,000. Deutsche Bank AG raised its holdings in shares of Inovio Pharmaceuticals by 247.7% in the 4th quarter. Deutsche Bank AG now owns 449,708 shares of the biopharmaceutical company’s stock worth $1,856,000 after acquiring an additional 320,376 shares during the last quarter. UBS Group AG raised its holdings in shares of Inovio Pharmaceuticals by 156.7% in the 1st quarter. UBS Group AG now owns 442,893 shares of the biopharmaceutical company’s stock worth $2,086,000 after acquiring an additional 270,373 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of Inovio Pharmaceuticals by 99.7% in the 4th quarter. ARK Investment Management LLC now owns 286,277 shares of the biopharmaceutical company’s stock worth $1,182,000 after acquiring an additional 142,894 shares during the last quarter. Institutional investors own 31.34% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a clinical-stage pharmaceutical company, which is involved in developing deoxyribonucleic acid (DNA) immunotherapies and vaccines focused on treating and preventing cancers and infectious diseases. The Company’s DNA-based immunotherapies, in combination with its electroporation delivery devices, generates immune responses, in particular T cells, in the body to fight target diseases.
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