Inovio Pharmaceuticals (NASDAQ:INO) Stock Price Breaks Above 200 Day Moving Average – Here’s Why

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $1.21 and traded as high as $1.21. Inovio Pharmaceuticals shares last traded at $1.17, with a volume of 1,832,781 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INO. HC Wainwright reaffirmed a “neutral” rating on shares of Inovio Pharmaceuticals in a research note on Thursday, August 13th. Weiss Ratings cut shares of Inovio Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $4.00 target price on shares of Inovio Pharmaceuticals in a research report on Monday, August 3rd. Jefferies Financial Group upgraded shares of Inovio Pharmaceuticals from a “hold” rating to a “positive” rating and increased their price target for the stock from $1.80 to $3.00 in a research note on Thursday, August 13th. Finally, Wall Street Zen raised shares of Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.17.

Inovio Pharmaceuticals Trading Up 5.9%

The stock has a market cap of $121.49 million, a price-to-earnings ratio of -1.29 and a beta of 1.63. The company’s fifty day moving average is $1.11 and its two-hundred day moving average is $1.20.

Inovio Pharmaceuticals (NASDAQ:INO) last announced its earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. Analysts predict that Inovio Pharmaceuticals, Inc. will post -0.72 EPS for the current year.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Eversept Partners LP acquired a new stake in shares of Inovio Pharmaceuticals in the 1st quarter valued at approximately $1,802,000. Caitong International Asset Management Co. Ltd increased its holdings in Inovio Pharmaceuticals by 1,929.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 48,948 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 46,536 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Inovio Pharmaceuticals during the second quarter worth $37,000. Squarepoint Ops LLC raised its position in Inovio Pharmaceuticals by 46.5% during the second quarter. Squarepoint Ops LLC now owns 36,391 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 11,554 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Inovio Pharmaceuticals during the second quarter worth $33,000. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc is a biotechnology company focused on developing DNA medicines designed to treat and prevent serious diseases. Its platform uses synthetic DNA plasmids to instruct cells to produce targeted proteins, with delivery supported by its CELLECTRA electroporation devices. The company’s research has included candidates for cancer, infectious diseases and human papillomavirus (HPV)-related conditions.

Inovio’s pipeline has included INO-3107, an investigational DNA immunotherapy for recurrent respiratory papillomatosis, a rare disease caused by HPV, as well as other development programs targeting cancers and infectious diseases.