Goldman Sachs Group Inc. Cuts Position in Inovio Pharmaceuticals, Inc. $INO

Key Points

• Goldman Sachs Group Inc. reduced its stake in Inovio Pharmaceuticals by 55.1%, now holding approximately 130,534 shares worth $213,000 after selling 159,902 shares in the first quarter.
• Inovio Pharmaceuticals' stock is currently priced at $2.48, with a 52-week range of $1.30 to $6.04, and a market capitalization of $131.79 million.
• Recent analyst ratings show a mixed outlook for Inovio Pharmaceuticals, with price targets ranging from $3.00 to $5.00, and an average rating of "Moderate Buy."

Goldman Sachs Group Inc. lessened its holdings in Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Free Report) by 55.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,534 shares of the biopharmaceutical company's stock after selling 159,902 shares during the quarter. Goldman Sachs Group Inc. owned about 0.36% of Inovio Pharmaceuticals worth $213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nomura Holdings Inc. purchased a new stake in Inovio Pharmaceuticals in the first quarter worth about $28,000. Freedom Investment Management Inc. bought a new position in shares of Inovio Pharmaceuticals in the first quarter worth approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Inovio Pharmaceuticals by 39.6% in the first 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. Jane Street Group LLC lifted its stake 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 buying an additional 21,512 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Inovio Pharmaceuticals in the first quarter worth approximately $90,000. Hedge funds and other institutional investors own 26.79% of the company's stock.

Inovio Pharmaceuticals Stock Up 2.1%

Inovio Pharmaceuticals stock opened at $2.48 on Monday. Inovio Pharmaceuticals, Inc. has a 52-week low of $1.30 and a 52-week high of $6.04. The company has a market cap of $131.79 million, a P/E ratio of -0.95 and a beta of 1.61. The business has a 50-day simple moving average of $2.02 and a two-hundred day simple moving average of $1.90.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.02. Research analysts anticipate that Inovio Pharmaceuticals, Inc. will post -4.23 EPS for the current fiscal year.

Analysts Set New Price Targets

INO has been the topic of several analyst reports. HC Wainwright reiterated a "neutral" rating and issued a $3.00 target price on shares of Inovio Pharmaceuticals in a research note on Thursday, August 14th. Piper Sandler initiated coverage on shares of Inovio Pharmaceuticals in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $5.00 target price on the stock. Wall Street Zen downgraded shares of Inovio Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Zacks Research downgraded shares of Inovio Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Inovio Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $8.80.

Inovio Pharmaceuticals Profile

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.

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