Traders Buy High Volume of Put Options on Inovio Pharmaceuticals (NASDAQ:INO)

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) was the target of some unusual options trading on Friday. Stock investors purchased 33,262 put options on the stock. This represents an increase of 722% compared to the typical volume of 4,047 put options.

Inovio Pharmaceuticals Stock Performance

Shares of Inovio Pharmaceuticals stock traded down $0.28 on Friday, reaching $1.18. 23,966,373 shares of the stock were exchanged, compared to its average volume of 4,586,835. The firm’s 50 day moving average is $1.17 and its 200-day moving average is $1.27. Inovio Pharmaceuticals has a one year low of $0.56 and a one year high of $2.72. The firm has a market cap of $121.50 million, a PE ratio of -1.28 and a beta of 1.71.

Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.15. On average, equities research analysts expect that Inovio Pharmaceuticals will post -0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INO has been the topic of a number of analyst reports. Weiss Ratings downgraded Inovio Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. HC Wainwright set a $5.00 price objective on Inovio Pharmaceuticals and gave the company a “buy” rating in a report on Monday. Zacks Research downgraded Inovio Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Jefferies Financial Group raised Inovio Pharmaceuticals from a “hold” rating to a “positive” rating and increased their target price for the stock from $1.80 to $3.00 in a report on Thursday, August 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $4.00 target price on shares of Inovio Pharmaceuticals in a report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in INO. Headlands Technologies LLC acquired a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter valued at $33,000. Engineers Gate Manager LP bought a new position in shares of Inovio Pharmaceuticals in the 2nd quarter valued at $37,000. Squarepoint Ops LLC raised its holdings in shares of Inovio Pharmaceuticals by 46.5% during the 2nd quarter. Squarepoint Ops LLC now owns 36,391 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 11,554 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Inovio Pharmaceuticals by 312.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 70,636 shares of the biopharmaceutical company’s stock worth $86,000 after buying an additional 53,510 shares in the last quarter. Finally, LexAurum Advisors LLC acquired a new position in shares of Inovio Pharmaceuticals during the 3rd quarter worth $118,000. 26.79% of the stock is currently owned by institutional investors.

Inovio Pharmaceuticals Company Profile

Inovio Pharmaceuticals, Inc is a biotechnology company focused on developing DNA medicines, including DNA-based vaccines and immunotherapies designed to treat or prevent infectious diseases, cancers and other serious conditions. The company’s platform is intended to stimulate targeted immune responses by delivering DNA medicines into cells.

Inovio’s product pipeline has included investigational therapies such as INO-3107, a DNA immunotherapy being developed for recurrent respiratory papillomatosis, and other candidates targeting cancer and infectious diseases.