Stonepine Capital Management LLC Takes Position in Inovio Pharmaceuticals, Inc. (NASDAQ:INO)

Stonepine Capital Management LLC purchased a new position in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,050,000 shares of the biopharmaceutical company's stock, valued at approximately $1,922,000. Inovio Pharmaceuticals makes up about 1.6% of Stonepine Capital Management LLC's holdings, making the stock its 19th biggest holding. Stonepine Capital Management LLC owned approximately 4.02% of Inovio Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Global Management LLC acquired a new stake in shares of Inovio Pharmaceuticals in the fourth quarter worth approximately $31,000. Bank of Montreal Can acquired a new stake in shares of Inovio Pharmaceuticals in the fourth quarter worth approximately $43,000. Boothbay Fund Management LLC acquired a new stake in shares of Inovio Pharmaceuticals in the fourth quarter worth approximately $44,000. Barclays PLC boosted its position in shares of Inovio Pharmaceuticals by 15.0% in the fourth quarter. Barclays PLC now owns 39,114 shares of the biopharmaceutical company's stock worth $71,000 after acquiring an additional 5,111 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Inovio Pharmaceuticals by 118.2% in the fourth quarter. Jane Street Group LLC now owns 39,704 shares of the biopharmaceutical company's stock worth $73,000 after acquiring an additional 21,512 shares during the last quarter. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

Inovio Pharmaceuticals Price Performance

INO stock traded down $0.15 during midday trading on Wednesday, reaching $1.98. 706,645 shares of the company's stock traded hands, compared to its average volume of 595,832. The business has a 50-day moving average price of $1.80 and a two-hundred day moving average price of $2.44. The company has a market capitalization of $72.61 million, a P/E ratio of -0.62 and a beta of 1.40. Inovio Pharmaceuticals, Inc. has a fifty-two week low of $1.42 and a fifty-two week high of $12.33.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.23. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.01 million. As a group, research analysts forecast that Inovio Pharmaceuticals, Inc. will post -4.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INO has been the topic of several research analyst reports. Oppenheimer decreased their target price on shares of Inovio Pharmaceuticals from $15.00 to $13.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. StockNews.com cut shares of Inovio Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $5.00 price target on shares of Inovio Pharmaceuticals in a research report on Wednesday, May 14th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $3.00 price target on shares of Inovio Pharmaceuticals in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $9.75.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.