Raymond James Financial Services Advisors Inc. increased its stake in Inovio Pharmaceuticals Inc (NASDAQ:INO) by 32.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,389 shares of the biopharmaceutical company’s stock after purchasing an additional 9,186 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Inovio Pharmaceuticals were worth $1,008,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Pennsylvania Capital Management Inc. ADV acquired a new stake in Inovio Pharmaceuticals in the 2nd quarter worth approximately $433,000. Perennial Investment Advisors LLC purchased a new position in Inovio Pharmaceuticals during the 2nd quarter worth approximately $308,000. Optimum Investment Advisors purchased a new position in Inovio Pharmaceuticals during the 2nd quarter worth approximately $32,000. Joseph P. Lucia & Associates LLC raised its position in Inovio Pharmaceuticals by 44.6% during the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 3,102 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 957 shares during the last quarter. Finally, Clarus Wealth Advisors purchased a new position in Inovio Pharmaceuticals during the 2nd quarter worth approximately $434,000. Institutional investors own 27.80% of the company’s stock.
Shares of INO opened at $19.44 on Friday. Inovio Pharmaceuticals Inc has a 52-week low of $1.91 and a 52-week high of $33.79. The company has a quick ratio of 8.53, a current ratio of 8.53 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $21.82 and its two-hundred day moving average is $11.64. The stock has a market cap of $3.07 billion, a PE ratio of -16.34 and a beta of 1.47.
Inovio Pharmaceuticals (NASDAQ:INO) last announced its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). Inovio Pharmaceuticals had a negative return on equity of 166.85% and a negative net margin of 4,700.42%. The business had revenue of $1.33 million for the quarter, compared to analyst estimates of $1.55 million. During the same period last year, the firm earned ($0.30) EPS. As a group, research analysts anticipate that Inovio Pharmaceuticals Inc will post -0.77 earnings per share for the current year.
Several research firms have recently weighed in on INO. Roth Capital lowered shares of Inovio Pharmaceuticals from a “neutral” rating to a “sell” rating and set a $11.00 target price for the company. in a report on Wednesday, July 1st. HC Wainwright lowered shares of Inovio Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Monday, June 29th. Maxim Group lowered shares of Inovio Pharmaceuticals from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a report on Wednesday, July 1st. BidaskClub lowered shares of Inovio Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald lifted their target price on shares of Inovio Pharmaceuticals from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Inovio Pharmaceuticals has an average rating of “Hold” and a consensus target price of $13.33.
In other news, Director David B. Weiner sold 2,404 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $11.84, for a total transaction of $28,463.36. Following the transaction, the director now owns 827,219 shares of the company’s stock, valued at approximately $9,794,272.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Laurent Humeau sold 19,467 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $14.70, for a total transaction of $286,164.90. Following the transaction, the insider now directly owns 63,433 shares in the company, valued at approximately $932,465.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,871 shares of company stock worth $4,228,378. 4.00% of the stock is currently owned by corporate insiders.
Inovio Pharmaceuticals Profile
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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