Inovio Pharmaceuticals (NASDAQ:INO) Announces Earnings Results

Key Points

• Inovio Pharmaceuticals reported a quarterly earnings per share (EPS) of ($0.61), surpassing the consensus estimate of ($0.65) by $0.04.
• The company's stock price increased to $1.49 after a trading volume of 1,238,462 shares, which is above its average volume.
• Research analysts have provided mixed ratings, with a consensus rating of "Moderate Buy" and a target price of $8.80, indicating potential for future growth.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.02, Zacks reports.

Inovio Pharmaceuticals Stock Performance

Inovio Pharmaceuticals stock traded up $0.24 during trading hours on Friday, hitting $1.86. The company had a trading volume of 11,659,109 shares, compared to its average volume of 1,847,965. The firm has a market cap of $68.21 million, a P/E ratio of -0.71 and a beta of 1.38. Inovio Pharmaceuticals has a 1 year low of $1.30 and a 1 year high of $8.01. The company has a 50-day moving average price of $1.67 and a two-hundred day moving average price of $1.83.

Analyst Upgrades and Downgrades

Several equities analysts have commented on INO shares. Wall Street Zen lowered shares of Inovio Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday. HC Wainwright restated a "neutral" rating and issued a $3.00 target price on shares of Inovio Pharmaceuticals in a report on Thursday. Oppenheimer dropped their price target on shares of Inovio Pharmaceuticals from $15.00 to $13.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. 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 price target for the company. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $5.00 price target on shares of Inovio Pharmaceuticals in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $8.80.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Inovio Pharmaceuticals by 39.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,781 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 5,894 shares during the period. Jane Street Group LLC lifted its position in shares of Inovio Pharmaceuticals by 221.2% in the 2nd quarter. Jane Street Group LLC now owns 39,683 shares of the biopharmaceutical company's stock worth $81,000 after purchasing an additional 27,329 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Inovio Pharmaceuticals in the 1st quarter worth approximately $120,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter worth approximately $234,000. 26.79% of the stock is owned by hedge funds and other institutional investors.

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.