Inovio Pharmaceuticals (NASDAQ:INO) Releases Quarterly Earnings Results

Inovio Pharmaceuticals (NASDAQ:INO) announced its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.07, Zacks reports.

Inovio Pharmaceuticals Stock Up 1.4%

Shares of Inovio Pharmaceuticals stock traded up $0.03 during trading on Monday, reaching $2.15. The company’s stock had a trading volume of 931,092 shares, compared to its average volume of 1,277,265. The business’s 50-day moving average price is $2.45 and its 200-day moving average price is $2.04. Inovio Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $5.60. The firm has a market cap of $114.26 million, a PE ratio of -0.82 and a beta of 1.64.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in INO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Inovio Pharmaceuticals by 39.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,781 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 5,894 shares during the period. Jane Street Group LLC lifted its position in Inovio Pharmaceuticals by 221.2% during the second quarter. Jane Street Group LLC now owns 39,683 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 27,329 shares during the period. AQR Capital Management LLC acquired a new position in shares of Inovio Pharmaceuticals in the 1st quarter valued at approximately $120,000. JPMorgan Chase & Co. lifted its holdings in shares of Inovio Pharmaceuticals by 1,667.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 65,206 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 61,516 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Inovio Pharmaceuticals during the 2nd quarter worth approximately $234,000. 26.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Zacks Research lowered Inovio Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Citigroup restated a “market outperform” rating on shares of Inovio Pharmaceuticals in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Inovio Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright reiterated a “neutral” rating and issued a $3.00 price objective on shares of Inovio Pharmaceuticals in a report on Thursday, August 14th. Finally, Wall Street Zen cut Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.80.

About Inovio Pharmaceuticals

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.