Inovio Pharmaceuticals (NASDAQ:INO) Stock Bumped Down to "Hold" by Zacks Research

Key Points

• Zacks Research downgraded Inovio Pharmaceuticals to “Hold” from “Strong Buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $3.17.
• Inovio shares opened at $1.00, compared with a 52-week range of $0.56 to $2.72. The company reported a quarterly loss of $0.07 per share, beating the $0.22-per-share consensus estimate.
• Institutional investors have continued adjusting their positions, and hedge funds and other institutions collectively own 26.79% of the stock.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday, Zacks reports.

Other analysts have also recently issued reports about the company. Jefferies Financial Group raised Inovio Pharmaceuticals from a "hold" rating to a "positive" rating and boosted their price target for the stock from $1.80 to $3.00 in a research report on Thursday, August 13th. Piper Sandler restated an "overweight" rating and issued a $4.00 price target on shares of Inovio Pharmaceuticals in a research note on Monday, August 3rd. Wall Street Zen raised Inovio Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. HC Wainwright reaffirmed a "neutral" rating on shares of Inovio Pharmaceuticals in a research report on Thursday, August 13th. Finally, Weiss Ratings cut Inovio Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Inovio Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $3.17.

Inovio Pharmaceuticals Price Performance

Shares of NASDAQ INO opened at $1.00 on Monday. Inovio Pharmaceuticals has a 1 year low of $0.56 and a 1 year high of $2.72. The firm has a 50-day moving average of $1.16 and a 200 day moving average of $1.17.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.15. On average, equities analysts forecast that Inovio Pharmaceuticals will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INO. Squarepoint Ops LLC grew its stake in shares of Inovio Pharmaceuticals by 46.5% during the 2nd quarter. Squarepoint Ops LLC now owns 36,391 shares of the biopharmaceutical company's stock valued at $40,000 after acquiring an additional 11,554 shares during the period. Headlands Technologies LLC purchased a new position in shares of Inovio Pharmaceuticals in the second quarter valued at about $33,000. Engineers Gate Manager LP purchased a new position in shares of Inovio Pharmaceuticals in the second quarter valued at about $37,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Inovio Pharmaceuticals by 1,929.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 48,948 shares of the biopharmaceutical company's stock worth $85,000 after acquiring an additional 46,536 shares during the period. Finally, Green Alpha Advisors LLC boosted its stake in shares of Inovio Pharmaceuticals by 68.8% in the third quarter. Green Alpha Advisors LLC now owns 114,857 shares of the biopharmaceutical company's stock worth $140,000 after acquiring an additional 46,802 shares during the period. 26.79% of the stock is owned by hedge funds and other institutional investors.

Inovio Pharmaceuticals Company Profile

Inovio Pharmaceuticals, Inc NASDAQ: INO is a biotechnology company focused on developing DNA medicines, including immunotherapies and vaccines designed to stimulate targeted immune responses. Its technology platform uses synthetic DNA constructs delivered into cells, with the company's CELLECTRA device platform developed to enhance cellular uptake.

Inovio's pipeline has included candidates for infectious diseases, cancers and other conditions involving the immune system. Its lead programs have included INO-3107, an investigational DNA immunotherapy being developed for recurrent respiratory papillomatosis, and VGX-3100, an earlier candidate studied for human papillomavirus-related disease.

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