Eversept Partners LP Purchases New Position in Inovio Pharmaceuticals, Inc. $INO

Eversept Partners LP bought a new stake in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,035,360 shares of the biopharmaceutical company’s stock, valued at approximately $1,802,000. Eversept Partners LP owned about 1.26% of Inovio Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Focus Partners Wealth bought a new position in shares of Inovio Pharmaceuticals during the third quarter valued at $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Inovio Pharmaceuticals by 39.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,781 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 5,894 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Inovio Pharmaceuticals by 752.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 20,572 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 18,160 shares in the last quarter. Raymond James Financial Inc. raised its position in Inovio Pharmaceuticals by 4,396.0% in the 3rd quarter. Raymond James Financial Inc. now owns 16,680 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 16,309 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Inovio Pharmaceuticals in the 3rd quarter worth about $41,000. Institutional investors own 26.79% of the company’s stock.

Inovio Pharmaceuticals Price Performance

Shares of INO opened at $0.97 on Tuesday. The firm has a market capitalization of $79.40 million, a P/E ratio of -0.67 and a beta of 1.48. Inovio Pharmaceuticals, Inc. has a one year low of $0.96 and a one year high of $2.98. The business has a fifty day moving average of $1.15 and a 200 day moving average of $1.37.

Inovio Pharmaceuticals (NASDAQ:INO) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Analysts expect that Inovio Pharmaceuticals, Inc. will post -1.03 EPS for the current fiscal year.

Analysts Set New Price Targets

INO has been the topic of a number of recent analyst reports. HC Wainwright dropped their price target on shares of Inovio Pharmaceuticals from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday, June 1st. Wall Street Zen cut shares of Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Finally, Weiss Ratings downgraded shares of Inovio Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.25.

Inovio Pharmaceuticals Profile

Inovio Pharmaceuticals is a biotechnology company focused on the discovery, development and commercialization of DNA-based immunotherapies and vaccines aimed at treating and preventing infectious diseases and cancers. The company leverages proprietary technologies to design synthetic DNA sequences that encode antigens capable of eliciting targeted immune responses. Inovio’s business activities span early research through clinical development, with a primary emphasis on advancing candidates against viral pathogens such as SARS-CoV-2, human papillomavirus (HPV), HIV, Ebola, Zika and other emerging threats.

Central to Inovio’s platform is its SynCon® technology, which constructs optimized DNA plasmids for broad antigen coverage, and the Cellectra® electroporation device, designed to enhance cellular uptake and expression of DNA vaccines.