Nuveen LLC Makes New Investment in Inovio Pharmaceuticals, Inc. $INO

Key Points

• Nuveen LLC has invested approximately $168,000 in Inovio Pharmaceuticals, acquiring 103,297 shares and owning about 0.28% of the company.
• Several other hedge funds have also acquired stakes or increased their holdings in Inovio Pharmaceuticals, with 26.79% of the stock owned by institutional investors.
• Analysts have recently downgraded the stock's ratings, with price targets adjusted down to as low as $5.00, while Inovio currently holds a consensus rating of "Moderate Buy" with an average price target of $8.80.

Nuveen LLC purchased a new position in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 103,297 shares of the biopharmaceutical company's stock, valued at approximately $168,000. Nuveen LLC owned 0.28% of Inovio Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alpine Global Management LLC acquired a new position in shares of Inovio Pharmaceuticals in the fourth quarter valued at approximately $31,000. Barclays PLC boosted its position in Inovio Pharmaceuticals by 15.0% in the 4th quarter. Barclays PLC now owns 39,114 shares of the biopharmaceutical company's stock valued at $71,000 after buying an additional 5,111 shares during the period. Jane Street Group LLC grew 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 acquiring an additional 21,512 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Inovio Pharmaceuticals in the first quarter worth $90,000. Finally, XTX Topco Ltd increased its position in shares of Inovio Pharmaceuticals by 26.7% during the first quarter. XTX Topco Ltd now owns 66,169 shares of the biopharmaceutical company's stock worth $108,000 after acquiring an additional 13,939 shares during the period. Hedge funds and other institutional investors own 26.79% of the company's stock.

Inovio Pharmaceuticals Price Performance

Shares of INO traded up $0.01 during mid-day trading on Thursday, reaching $2.65. The company's stock had a trading volume of 1,506,031 shares, compared to its average volume of 2,541,432. Inovio Pharmaceuticals, Inc. has a 12-month low of $1.30 and a 12-month high of $7.00. The stock has a market cap of $140.83 million, a PE ratio of -1.02 and a beta of 1.62. The company's 50 day moving average is $1.80 and its 200 day moving average is $1.87.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.63) by $0.02. As a group, sell-side analysts anticipate that Inovio Pharmaceuticals, Inc. will post -4.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer decreased their target price on Inovio Pharmaceuticals from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $5.00 price target on shares of Inovio Pharmaceuticals in a research report on Wednesday, May 14th. Wall Street Zen cut Inovio Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Piper Sandler assumed coverage on shares of Inovio Pharmaceuticals in a research note on Wednesday, July 9th. They set an "overweight" rating and a $5.00 target price on the stock. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $3.00 target price on shares of Inovio Pharmaceuticals in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Inovio Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $8.80.

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.