Inovio Pharmaceuticals (NASDAQ:INO) Stock Sees Unusually High Put Option Buying

Key Points

• Traders bought 33,262 put options on Inovio, about 722% above the typical volume of 4,047.
• INO shares fell 19% to $1.18 on Friday, on trading volume well above average.
• Analysts’ consensus rating is Moderate Buy, with an average $4 price target; the company also reported a smaller-than-expected quarterly loss.

Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Get Free Report) was the target of unusually large options trading on Friday. Traders bought 33,262 put options on the company. This represents an increase of approximately 722% compared to the typical volume of 4,047 put options.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INO. Wall Street Zen upgraded Inovio Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Piper Sandler restated an "overweight" rating and issued a $4.00 price target on shares of Inovio Pharmaceuticals in a research note on Monday, August 3rd. Jefferies Financial Group raised Inovio Pharmaceuticals from a "hold" rating to a "positive" rating and raised their price target for the company from $1.80 to $3.00 in a report on Thursday, August 13th. Weiss Ratings downgraded Inovio Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, August 13th. Finally, Zacks Research cut shares of Inovio Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 12th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Inovio Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $4.00.

Institutional Investors Weigh In On Inovio Pharmaceuticals

A number of institutional investors have recently modified their holdings of INO. Eversept Partners LP bought a new position in Inovio Pharmaceuticals during the first quarter worth about $1,802,000. Renaissance Technologies LLC boosted its holdings in Inovio Pharmaceuticals by 16.4% in the 1st quarter. Renaissance Technologies LLC now owns 643,777 shares of the biopharmaceutical company's stock valued at $1,120,000 after purchasing an additional 90,613 shares during the period. Green Alpha Advisors LLC boosted its holdings in Inovio Pharmaceuticals by 68.8% in the 3rd quarter. Green Alpha Advisors LLC now owns 114,857 shares of the biopharmaceutical company's stock valued at $140,000 after purchasing an additional 46,802 shares during the period. LexAurum Advisors LLC bought a new stake in Inovio Pharmaceuticals in the 3rd quarter valued at about $118,000. Finally, Prime Capital Investment Advisors LLC grew its position in shares of Inovio Pharmaceuticals by 312.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 70,636 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 53,510 shares in the last quarter. Institutional investors own 26.79% of the company's stock.

Inovio Pharmaceuticals Trading Down 19.0%

Shares of NASDAQ:INO traded down $0.28 during trading on Friday, reaching $1.18. 23,966,373 shares of the stock were exchanged, compared to its average volume of 4,586,835. Inovio Pharmaceuticals has a 12 month low of $0.56 and a 12 month high of $2.72. The stock has a 50-day moving average price of $1.17 and a 200-day moving average price of $1.27. The firm has a market cap of $121.50 million, a PE ratio of -1.28 and a beta of 1.71.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last announced its earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.15. On average, sell-side analysts expect that Inovio Pharmaceuticals will post -0.74 earnings per share for the current fiscal year.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc is a biotechnology company focused on developing DNA medicines, including DNA-based vaccines and immunotherapies designed to treat or prevent infectious diseases, cancers and other serious conditions. The company's platform is intended to stimulate targeted immune responses by delivering DNA medicines into cells.

Inovio's product pipeline has included investigational therapies such as INO-3107, a DNA immunotherapy being developed for recurrent respiratory papillomatosis, and other candidates targeting cancer and infectious diseases.

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