Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its holdings in Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Free Report) by 1,035.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 640,987 shares of the biopharmaceutical company's stock after purchasing an additional 584,521 shares during the period. Bank of America Corp DE owned 2.46% of Inovio Pharmaceuticals worth $1,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Alpine Global Management LLC acquired a new stake in Inovio Pharmaceuticals during the fourth quarter worth about $31,000. Bank of Montreal Can purchased a new position in Inovio Pharmaceuticals during the 4th quarter worth approximately $43,000. Boothbay Fund Management LLC acquired a new position in shares of Inovio Pharmaceuticals in the 4th quarter valued at about $44,000. Barclays PLC increased its holdings in 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 buying an additional 5,111 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Inovio Pharmaceuticals by 118.2% during the 4th quarter. Jane Street Group LLC now owns 39,704 shares of the biopharmaceutical company's stock valued at $73,000 after purchasing an additional 21,512 shares in the last quarter. Institutional investors and hedge funds own 26.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oppenheimer reduced 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 note on Wednesday, May 14th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $5.00 price target on shares of Inovio Pharmaceuticals in a research note on Wednesday, May 14th. Wall Street Zen downgraded Inovio Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, HC Wainwright restated a "neutral" rating and issued a $3.00 price target on shares of Inovio Pharmaceuticals in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Inovio Pharmaceuticals currently has an average rating of "Hold" and a consensus target price of $9.75.

Inovio Pharmaceuticals Stock Down 2.0%

INO traded down $0.05 during midday trading on Monday, reaching $2.23. The company had a trading volume of 581,171 shares, compared to its average volume of 613,973. Inovio Pharmaceuticals, Inc. has a 1 year low of $1.42 and a 1 year high of $12.33. The business has a 50-day moving average of $1.86 and a two-hundred day moving average of $2.16. The company has a market cap of $81.60 million, a P/E ratio of -0.70 and a beta of 1.34.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.23. The company had revenue of $0.07 million for the quarter, compared to analysts' expectations of $0.01 million. On average, equities research analysts predict that Inovio Pharmaceuticals, Inc. will post -4.23 EPS for the current year.

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.