ING Groep NV decreased its stake in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) by 76.9% during the second quarter, Holdings Channel reports. The institutional investor owned 20,000 shares of the biopharmaceutical company’s stock after selling 66,719 shares during the period. ING Groep NV’s holdings in Inovio Pharmaceuticals were worth $157,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position in shares of Inovio Pharmaceuticals by 28.9% in the first quarter. Wells Fargo & Company MN now owns 124,565 shares of the biopharmaceutical company’s stock valued at $825,000 after buying an additional 27,898 shares in the last quarter. Vident Investment Advisory LLC increased its stake in shares of Inovio Pharmaceuticals by 20.0% in the first quarter. Vident Investment Advisory LLC now owns 127,375 shares of the biopharmaceutical company’s stock worth $843,000 after buying an additional 21,228 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Inovio Pharmaceuticals by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 342,348 shares of the biopharmaceutical company’s stock worth $2,266,000 after buying an additional 11,765 shares during the last quarter. Stoneridge Investment Partners LLC increased its stake in shares of Inovio Pharmaceuticals by 0.8% in the first quarter. Stoneridge Investment Partners LLC now owns 254,449 shares of the biopharmaceutical company’s stock worth $1,684,000 after buying an additional 2,073 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Inovio Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 40,856 shares of the biopharmaceutical company’s stock worth $270,000 after buying an additional 2,695 shares during the last quarter. Hedge funds and other institutional investors own 22.92% of the company’s stock.

Shares of Inovio Pharmaceuticals, Inc. (NASDAQ INO) traded up 1.28% during midday trading on Friday, reaching $5.56. The company’s stock had a trading volume of 1,077,056 shares. The company’s market cap is $501.66 million. Inovio Pharmaceuticals, Inc. has a 12-month low of $5.32 and a 12-month high of $9.86. The stock’s 50-day moving average price is $6.81 and its 200-day moving average price is $6.81.

Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.08. Inovio Pharmaceuticals had a negative return on equity of 63.67% and a negative net margin of 153.46%. The company had revenue of $20.41 million during the quarter, compared to analysts’ expectations of $16.29 million. During the same period last year, the firm earned ($0.26) EPS. The firm’s revenue for the quarter was up 229.2% on a year-over-year basis. On average, analysts expect that Inovio Pharmaceuticals, Inc. will post ($0.93) EPS for the current fiscal year.

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A number of brokerages recently weighed in on INO. ValuEngine raised Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday. HC Wainwright set a $13.00 price objective on Inovio Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday. Maxim Group set a $12.00 price objective on Inovio Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday. BidaskClub downgraded Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Aegis reaffirmed a “buy” rating and set a $14.00 price objective on shares of Inovio Pharmaceuticals in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $20.78.

In other Inovio Pharmaceuticals news, Director David B. Weiner sold 8,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $8.00, for a total transaction of $64,000.00. Following the completion of the sale, the director now directly owns 740,956 shares of the company’s stock, valued at approximately $5,927,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.60% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Inovio Pharmaceuticals (NASDAQ:INO)

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