Stoneridge Investment Partners LLC Has $1,615,000 Position in Inovio Pharmaceuticals Inc. (INO)
Stoneridge Investment Partners LLC cut its stake in Inovio Pharmaceuticals Inc. (NASDAQ:INO) by 55.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,740 shares of the biopharmaceutical company’s stock after selling 216,149 shares during the period. Stoneridge Investment Partners LLC owned approximately 0.24% of Inovio Pharmaceuticals worth $1,615,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Bellevue Group AG acquired a new stake in shares of Inovio Pharmaceuticals during the first quarter valued at about $2,308,000. Round Table Services LLC increased its stake in shares of Inovio Pharmaceuticals by 76.2% in the second quarter. Round Table Services LLC now owns 129,500 shares of the biopharmaceutical company’s stock valued at $1,197,000 after buying an additional 56,000 shares during the period. Geode Capital Management LLC increased its stake in shares of Inovio Pharmaceuticals by 10.3% in the first quarter. Geode Capital Management LLC now owns 481,434 shares of the biopharmaceutical company’s stock valued at $4,193,000 after buying an additional 44,923 shares during the period. BlackRock Fund Advisors increased its stake in shares of Inovio Pharmaceuticals by 1.4% in the first quarter. BlackRock Fund Advisors now owns 2,804,668 shares of the biopharmaceutical company’s stock valued at $24,429,000 after buying an additional 37,732 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at about $249,000. Institutional investors own 28.58% of the company’s stock.
Inovio Pharmaceuticals Inc. (NASDAQ:INO) traded down 0.61% on Thursday, reaching $9.74. The company’s stock had a trading volume of 854,834 shares. The company’s market cap is $716.36 million. Inovio Pharmaceuticals Inc. has a 52-week low of $4.50 and a 52-week high of $11.69. The firm’s 50-day moving average price is $9.11 and its 200 day moving average price is $9.38.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. The company had revenue of $6.20 million for the quarter, compared to analyst estimates of $4.95 million. Inovio Pharmaceuticals had a negative return on equity of 22.29% and a negative net margin of 88.19%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. Equities analysts anticipate that Inovio Pharmaceuticals Inc. will post ($0.93) EPS for the current fiscal year.
INO has been the subject of several recent analyst reports. Zacks Investment Research downgraded Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Vetr downgraded Inovio Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $11.11 price target for the company. in a report on Monday, August 1st. HC Wainwright initiated coverage on Inovio Pharmaceuticals in a report on Monday, August 29th. They issued a “buy” rating and a $17.00 price target for the company. Stifel Nicolaus restated a “buy” rating and issued a $13.00 price target on shares of Inovio Pharmaceuticals in a report on Sunday, July 17th. Finally, Maxim Group downgraded Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.39.
In other Inovio Pharmaceuticals news, Director Morton Collins acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were bought at an average cost of $9.13 per share, with a total value of $91,300.00. Following the purchase, the director now directly owns 142,291 shares of the company’s stock, valued at $1,299,116.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Niranjan Sardesai sold 21,800 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $9.30, for a total value of $202,740.00. Following the completion of the transaction, the chief operating officer now directly owns 70,234 shares in the company, valued at $653,176.20. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a bio-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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