Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Sees Large Increase in Short Interest

Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,060,000 shares, an increase of 10.8% from the February 29th total of 1,860,000 shares. Approximately 9.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 526,600 shares, the days-to-cover ratio is presently 3.9 days.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Graham Capital Management L.P. acquired a new position in shares of Inovio Pharmaceuticals in the first quarter worth $29,000. Mariner LLC raised its holdings in shares of Inovio Pharmaceuticals by 469.0% in the third quarter. Mariner LLC now owns 76,093 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 62,719 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Inovio Pharmaceuticals in the second quarter worth $34,000. Principal Financial Group Inc. raised its holdings in shares of Inovio Pharmaceuticals by 11.4% in the fourth quarter. Principal Financial Group Inc. now owns 68,349 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 7,018 shares during the last quarter. Finally, CI Private Wealth LLC acquired a new position in shares of Inovio Pharmaceuticals in the fourth quarter worth $37,000. 26.79% of the stock is owned by institutional investors and hedge funds.

Inovio Pharmaceuticals Stock Performance

INO stock traded down $0.71 during midday trading on Tuesday, hitting $12.41. 526,339 shares of the stock were exchanged, compared to its average volume of 562,013. The stock's 50-day moving average price is $11.95 and its 200-day moving average price is $47.35. The stock has a market cap of $290.02 million, a price-to-earnings ratio of -1.64 and a beta of 1.11. Inovio Pharmaceuticals has a fifty-two week low of $3.89 and a fifty-two week high of $14.75.

Analysts Set New Price Targets

INO has been the topic of a number of analyst reports. StockNews.com upgraded Inovio Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Friday, March 8th. Oppenheimer upgraded Inovio Pharmaceuticals from a "market perform" rating to an "outperform" rating and set a $48.00 price target on the stock in a research note on Thursday, January 25th. JMP Securities initiated coverage on Inovio Pharmaceuticals in a research note on Thursday, January 4th. They issued a "market outperform" rating and a $144.00 price target on the stock. Finally, Royal Bank of Canada restated a "sector perform" rating on shares of Inovio Pharmaceuticals in a research note on Thursday, March 7th.

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.