Inovio Pharmaceuticals (NASDAQ:INO) Shares Break Above 200 Day Moving Average - What's Next?

Key Points

• Inovio shares surged 213.7%, reaching $2.17 and closing at $1.89, well above the 200-day moving average of $1.27 on exceptionally high trading volume.
• The rally followed the FDA’s accelerated approval of VOCERYQ, Inovio’s first approved product, along with HC Wainwright’s upgrade to “buy” and a $5 price target.
• Analyst sentiment is broadly positive, with six Buy ratings, one Hold and one Sell; MarketBeat reports a “Moderate Buy” consensus and an average price target of $4.00, though the company remains unprofitable and focused on advancing its DNA-medicine pipeline.

Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $1.27 and traded as high as $2.17. Inovio Pharmaceuticals shares last traded at $1.89, with a volume of 221,083,904 shares traded.

More Inovio Pharmaceuticals News

Here are the key news stories impacting Inovio Pharmaceuticals this week:

• Positive Sentiment: FDA accelerated approval of VOCERYQ provides Inovio with its first approved product and could support future sales, commercialization partnerships, and broader investor confidence in its DNA medicines. INOVIO Receives FDA Accelerated Approval for VOCERYQ
• Positive Sentiment: HC Wainwright upgraded Inovio from “neutral” to “buy” following the FDA decision, adding sell-side support to the rally. Inovio Shares Surge After HC Wainwright Upgrade
• Positive Sentiment: Management will present data on its DNA medicine programs, including INO-D001 for hemophilia A, at upcoming scientific conferences, potentially increasing visibility for its pipeline. INOVIO to Participate in Upcoming Scientific Conferences

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INO shares. Jefferies Financial Group raised Inovio Pharmaceuticals from a "hold" rating to a "positive" rating and upped their price target for the company from $1.80 to $3.00 in a research note on Thursday, August 13th. Weiss Ratings downgraded shares of Inovio Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, August 13th. Zacks Research lowered shares of Inovio Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. HC Wainwright set a $5.00 price objective on shares of Inovio Pharmaceuticals and gave the company a "buy" rating in a report on Monday. Finally, Wall Street Zen raised shares of Inovio Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $4.00.

Inovio Pharmaceuticals Trading Up 213.7%

The firm has a market cap of $195.43 million, a price-to-earnings ratio of -2.08 and a beta of 1.61. The company has a 50 day moving average of $1.15 and a 200 day moving average of $1.27.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last posted its earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.15. Equities analysts forecast that Inovio Pharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Institutional Trading of Inovio Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Eversept Partners LP acquired a new position in shares of Inovio Pharmaceuticals in the first quarter valued at approximately $1,802,000. Renaissance Technologies LLC increased its position in shares of Inovio Pharmaceuticals by 16.4% during the first quarter. Renaissance Technologies LLC now owns 643,777 shares of the biopharmaceutical company's stock worth $1,120,000 after acquiring an additional 90,613 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of Inovio Pharmaceuticals by 68.8% during the third quarter. Green Alpha Advisors LLC now owns 114,857 shares of the biopharmaceutical company's stock worth $140,000 after acquiring an additional 46,802 shares in the last quarter. LexAurum Advisors LLC acquired a new stake in shares of Inovio Pharmaceuticals during the third quarter worth $118,000. Finally, Prime Capital Investment Advisors LLC raised its holdings in shares of Inovio Pharmaceuticals by 312.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 70,636 shares of the biopharmaceutical company's stock worth $86,000 after acquiring an additional 53,510 shares during the period. 26.79% of the stock is owned by institutional investors.

Inovio Pharmaceuticals Company Profile

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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