Inovio Pharmaceuticals (NASDAQ:INO) Stock Rating Lowered by Zacks Research

Inovio Pharmaceuticals (NASDAQ:INO) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

A number of other brokerages also recently commented on INO. HC Wainwright reiterated a “neutral” rating on shares of Inovio Pharmaceuticals in a research report on Thursday, August 13th. Weiss Ratings cut Inovio Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Wall Street Zen raised Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Jefferies Financial Group raised Inovio Pharmaceuticals from a “hold” rating to a “positive” rating and boosted their target price for the stock from $1.80 to $3.00 in a research report on Thursday, August 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $4.00 target price on shares of Inovio Pharmaceuticals in a report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Inovio Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $3.17.

Inovio Pharmaceuticals Price Performance

NASDAQ INO opened at $1.00 on Monday. The company’s 50 day simple moving average is $1.16 and its 200 day simple moving average is $1.17. Inovio Pharmaceuticals has a 12 month low of $0.56 and a 12 month high of $2.72. The company has a market capitalization of $103.21 million, a P/E ratio of -1.10 and a beta of 1.61.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.15. On average, analysts anticipate that Inovio Pharmaceuticals will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Several hedge funds have recently made changes to their positions in INO. Eversept Partners LP acquired a new stake in shares of Inovio Pharmaceuticals during the 1st quarter valued at about $1,802,000. Renaissance Technologies LLC grew its stake in shares of Inovio Pharmaceuticals by 16.4% in the 1st quarter. Renaissance Technologies LLC now owns 643,777 shares of the biopharmaceutical company’s stock valued at $1,120,000 after buying an additional 90,613 shares in the last quarter. Green Alpha Advisors LLC increased its holdings in Inovio Pharmaceuticals by 68.8% in the third quarter. Green Alpha Advisors LLC now owns 114,857 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 46,802 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Inovio Pharmaceuticals by 1,929.4% in 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. Finally, Engineers Gate Manager LP bought a new position in Inovio Pharmaceuticals during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 26.79% of the company’s stock.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc (NASDAQ: INO) is a biotechnology company focused on developing DNA medicines, including immunotherapies and vaccines designed to stimulate targeted immune responses. Its technology platform uses synthetic DNA constructs delivered into cells, with the company’s CELLECTRA device platform developed to enhance cellular uptake.

Inovio’s pipeline has included candidates for infectious diseases, cancers and other conditions involving the immune system. Its lead programs have included INO-3107, an investigational DNA immunotherapy being developed for recurrent respiratory papillomatosis, and VGX-3100, an earlier candidate studied for human papillomavirus-related disease.