Wall Street Zen Downgrades Inovio Pharmaceuticals (NASDAQ:INO) to Sell

Inovio Pharmaceuticals (NASDAQ:INO) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other research firms have also weighed in on INO. HC Wainwright reiterated a “neutral” rating and issued a $3.00 price objective on shares of Inovio Pharmaceuticals in a research note on Thursday. Oppenheimer reduced their price objective on shares of Inovio Pharmaceuticals from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, May 14th. Piper Sandler began coverage on shares of Inovio Pharmaceuticals in a research note on Wednesday, July 9th. They issued an “overweight” rating and a $5.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $5.00 price objective on shares of Inovio Pharmaceuticals in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.80.

Inovio Pharmaceuticals Trading Up 14.8%

NASDAQ:INO opened at $1.86 on Friday. The stock has a market capitalization of $68.21 million, a PE ratio of -0.71 and a beta of 1.38. The firm’s 50 day moving average is $1.67 and its 200 day moving average is $1.83. Inovio Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $8.01.

Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings data on Tuesday, August 12th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. Research analysts predict that Inovio Pharmaceuticals will post -4.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INO. Bank of America Corp DE grew its position in Inovio Pharmaceuticals by 1,035.2% in the fourth quarter. Bank of America Corp DE now owns 640,987 shares of the biopharmaceutical company’s stock worth $1,173,000 after acquiring an additional 584,521 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in Inovio Pharmaceuticals in the fourth quarter worth $1,922,000. Bank of Montreal Can bought a new stake in Inovio Pharmaceuticals in the fourth quarter worth $43,000. Jane Street Group LLC lifted its stake in Inovio Pharmaceuticals by 118.2% in the fourth quarter. Jane Street Group LLC now owns 39,704 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 21,512 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in Inovio Pharmaceuticals in the first quarter worth $90,000. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.