Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Short Interest Update

by · The Cerbat Gem

Inovio Pharmaceuticals, Inc. (NASDAQ:INO – Get Free Report) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 3,340,000 shares, a growth of 9.5% from the September 15th total of 3,050,000 shares. Based on an average daily trading volume, of 329,200 shares, the days-to-cover ratio is presently 10.1 days. Currently, 13.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter valued at approximately $82,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter valued at approximately $88,000. American Century Companies Inc. lifted its position in shares of Inovio Pharmaceuticals by 62.2% in the 2nd quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 12,100 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Inovio Pharmaceuticals in the 3rd quarter valued at approximately $71,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter valued at approximately $184,000. Hedge funds and other institutional investors own 26.79% of the company’s stock.

Inovio Pharmaceuticals Stock Performance

Shares of NASDAQ:INO traded up $0.11 during trading on Wednesday, reaching $5.69. The company had a trading volume of 212,280 shares, compared to its average volume of 412,378. The firm’s fifty day moving average is $6.76 and its 200 day moving average is $9.12. The firm has a market capitalization of $147.43 million, a PE ratio of -1.50 and a beta of 0.82. Inovio Pharmaceuticals has a twelve month low of $3.89 and a twelve month high of $14.75.

Inovio Pharmaceuticals (NASDAQ:INO – Get Free Report) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.09). The company had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.10 million. During the same period in the previous year, the company posted ($1.56) earnings per share. Equities analysts predict that Inovio Pharmaceuticals will post -4.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INO. HC Wainwright restated a “neutral” rating and issued a $15.00 target price on shares of Inovio Pharmaceuticals in a research note on Monday, July 15th. Royal Bank of Canada lowered their price objective on shares of Inovio Pharmaceuticals from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Oppenheimer lowered their price objective on shares of Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.80.

Read Our Latest Stock Report on INO

About Inovio Pharmaceuticals

(Get Free Report)

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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