Inovio Pharmaceuticals (NASDAQ:INO) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Inovio Pharmaceuticals' share price recently crossed above its 200-day moving average of $1.92, with the stock trading as high as $2.58.
• Analysts have mixed ratings on the stock, with Piper Sandler giving an "overweight" rating and a $5.00 target price, while Wall Street Zen downgraded it to a "sell" rating.
• Inovio reported earnings of ($0.61) EPS, beating analysts' expectations, but is projected to post ($4.23) EPS for the current year.

Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.92 and traded as high as $2.58. Inovio Pharmaceuticals shares last traded at $2.41, with a volume of 976,420 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on INO. Piper Sandler began coverage on shares of Inovio Pharmaceuticals in a research report on Wednesday, July 9th. They issued an "overweight" rating and a $5.00 target price for the company. HC Wainwright restated a "neutral" rating and set a $3.00 price objective on shares of Inovio Pharmaceuticals in a research note on Thursday, August 14th. Wall Street Zen downgraded Inovio Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Inovio Pharmaceuticals in a report on Saturday, September 27th. Finally, Zacks Research cut Inovio Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.80.

Inovio Pharmaceuticals Stock Performance

The firm has a market cap of $128.07 million, a P/E ratio of -0.92 and a beta of 1.65. The firm has a fifty day moving average of $2.13 and a 200-day moving average of $1.92.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last posted its 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. Equities research analysts expect that Inovio Pharmaceuticals, Inc. will post -4.23 earnings per share for the current year.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Several large investors have recently made changes to their positions in INO. Jane Street Group LLC raised its holdings in shares of Inovio Pharmaceuticals by 221.2% during the second quarter. Jane Street Group LLC now owns 39,683 shares of the biopharmaceutical company's stock valued at $81,000 after buying an additional 27,329 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $234,000. Catalyst Funds Management Pty Ltd bought a new stake in Inovio Pharmaceuticals during the 2nd quarter valued at $35,000. Bank of Montreal Can boosted its position in Inovio Pharmaceuticals by 23.7% during the 2nd quarter. Bank of Montreal Can now owns 57,946 shares of the biopharmaceutical company's stock worth $118,000 after acquiring an additional 11,110 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Inovio Pharmaceuticals in the second quarter worth $86,000. Institutional investors and hedge funds own 26.79% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.