Inovio Pharmaceuticals, Inc. (INO) Sees Significant Drop in Short Interest

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 8,603,835 shares, a decline of 20.5% from the July 14th total of 10,821,529 shares. Approximately 10.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,606,177 shares, the short-interest ratio is presently 2.4 days.

Shares of Inovio Pharmaceuticals (INO) opened at 5.52 on Thursday. The stock’s market cap is $498.05 million. The stock’s 50 day moving average is $6.59 and its 200 day moving average is $6.80. Inovio Pharmaceuticals has a 52-week low of $5.32 and a 52-week high of $9.86.

Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.08. The business had revenue of $20.41 million for the quarter, compared to analyst estimates of $16.29 million. Inovio Pharmaceuticals had a negative net margin of 153.46% and a negative return on equity of 63.67%. The company’s quarterly revenue was up 229.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.26) earnings per share. On average, equities analysts expect that Inovio Pharmaceuticals will post ($0.92) earnings per share for the current fiscal year.

In related news, Director David B. Weiner sold 8,000 shares of Inovio Pharmaceuticals stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $8.00, for a total value of $64,000.00. Following the sale, the director now directly owns 740,956 shares in the company, valued at approximately $5,927,648. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new position in shares of Inovio Pharmaceuticals during the second quarter valued at about $107,000. PNC Financial Services Group Inc. increased its position in shares of Inovio Pharmaceuticals by 5.0% in the second quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 1,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Inovio Pharmaceuticals during the second quarter valued at about $171,000. Bank of America Corp DE increased its position in shares of Inovio Pharmaceuticals by 14.6% in the first quarter. Bank of America Corp DE now owns 28,256 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 3,605 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new position in shares of Inovio Pharmaceuticals during the second quarter valued at about $194,000. 22.96% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on INO shares. Nomura reissued a “buy” rating and issued a $40.00 target price on shares of Inovio Pharmaceuticals in a research note on Monday, May 1st. HC Wainwright set a $13.00 target price on shares of Inovio Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, July 7th. ValuEngine raised shares of Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Inovio Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “neutral” rating and issued a $38.00 target price on shares of Inovio Pharmaceuticals in a research note on Monday, May 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $20.78.

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Inovio Pharmaceuticals Company Profile

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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