Inovio Pharmaceuticals Inc (NASDAQ:INO) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 11,738,900 shares, a decrease of 14.7% from the May 30th total of 13,763,100 shares. Currently, 13.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is presently 10.8 days.
In other news, CEO Jong Joseph Kim sold 136,768 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $3.50, for a total value of $478,688.00. Following the transaction, the chief executive officer now owns 2,511,055 shares of the company’s stock, valued at approximately $8,788,692.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laurent Humeau purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was bought at an average cost of $2.50 per share, for a total transaction of $50,000.00. Following the acquisition, the insider now directly owns 45,833 shares in the company, valued at $114,582.50. The disclosure for this purchase can be found here. Insiders sold a total of 2,866,321 shares of company stock worth $7,055,433 in the last three months. Insiders own 7.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. M Holdings Securities Inc. purchased a new stake in Inovio Pharmaceuticals during the 1st quarter valued at $54,000. ARK Investment Management LLC boosted its position in Inovio Pharmaceuticals by 55.4% during the 1st quarter. ARK Investment Management LLC now owns 2,929,597 shares of the biopharmaceutical company’s stock valued at $10,927,000 after buying an additional 1,043,956 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Inovio Pharmaceuticals by 21.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 36,400 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 6,500 shares during the period. Wasatch Advisors Inc. boosted its position in Inovio Pharmaceuticals by 9.6% during the 1st quarter. Wasatch Advisors Inc. now owns 5,848,410 shares of the biopharmaceutical company’s stock valued at $21,815,000 after buying an additional 510,480 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Inovio Pharmaceuticals during the 1st quarter valued at $11,896,000. 47.24% of the stock is currently owned by institutional investors.
Shares of INO stock traded up $0.06 on Friday, hitting $2.99. 505,029 shares of the company’s stock traded hands, compared to its average volume of 1,153,548. The company has a quick ratio of 4.92, a current ratio of 4.92 and a debt-to-equity ratio of 1.02. Inovio Pharmaceuticals has a one year low of $2.15 and a one year high of $6.30. The firm’s fifty day moving average is $2.75. The stock has a market cap of $293.12 million, a PE ratio of -2.85 and a beta of 2.03.
Inovio Pharmaceuticals (NASDAQ:INO) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.01). Inovio Pharmaceuticals had a negative net margin of 295.24% and a negative return on equity of 97.95%. The business had revenue of $2.83 million for the quarter, compared to the consensus estimate of $4.44 million. As a group, equities research analysts anticipate that Inovio Pharmaceuticals will post -1.01 EPS for the current year.
INO has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of Inovio Pharmaceuticals in a report on Monday, March 25th. They issued an “overweight” rating and a $3.62 price target on the stock. BidaskClub lowered shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, June 1st. HC Wainwright set a $4.00 target price on shares of Uranium Energy and gave the company a “buy” rating in a report on Tuesday, June 11th. Maxim Group reaffirmed a “buy” rating and set a $8.00 target price on shares of Inovio Pharmaceuticals in a report on Wednesday, April 3rd. Finally, Zacks Investment Research lowered shares of Hanger from a “hold” rating to a “sell” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Inovio Pharmaceuticals has an average rating of “Buy” and an average target price of $7.22.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of DNA-based immunotherapies and vaccines to prevent and treat cancers and infectious diseases. Its SynCon immunotherapy design has the ability to break the immune system's tolerance of cancerous cells, as well as is intended to facilitate cross-strain protection against known, as well as new unmatched strains of pathogens, such as influenza.
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