Inovio Pharmaceuticals (NASDAQ:INO) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Inovio Pharmaceuticals shares crossed above their 200-day moving average, reaching $1.37 before last trading at $1.27 on volume of about 5.6 million shares.
• Analyst sentiment was broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $3.17; Jefferies raised its target from $1.80 to $3.00.
• Inovio reported a quarterly loss of $0.07 per share, beating the consensus estimate of a $0.22 loss, while institutional investors and hedge funds owned 26.79% of the company.

Shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Get Free Report) passed 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 $1.37. Inovio Pharmaceuticals shares last traded at $1.27, with a volume of 5,623,595 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on INO. Weiss Ratings lowered Inovio Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 13th. Zacks Research upgraded Inovio Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Piper Sandler reiterated an "overweight" rating and issued a $4.00 price target on shares of Inovio Pharmaceuticals in a report on Monday, August 3rd. Wall Street Zen upgraded Inovio Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Jefferies Financial Group upgraded Inovio Pharmaceuticals from a "hold" rating to a "positive" rating and raised their price objective for the stock from $1.80 to $3.00 in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3.17.

Inovio Pharmaceuticals Trading Down 1.6%

The stock has a market capitalization of $131.32 million, a PE ratio of -1.40 and a beta of 1.52. The business's 50-day moving average is $1.06 and its two-hundred day moving average is $1.27.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.15. On average, analysts predict that Inovio Pharmaceuticals, Inc. will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in shares of Inovio Pharmaceuticals in the first quarter valued at $120,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $34,000 after buying an additional 5,894 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at about $234,000. Jane Street Group LLC increased its position 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 worth $81,000 after acquiring an additional 27,329 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Inovio Pharmaceuticals by 1,667.1% in the third quarter. JPMorgan Chase & Co. now owns 65,206 shares of the biopharmaceutical company's stock worth $153,000 after acquiring an additional 61,516 shares in the last quarter. 26.79% of the stock is owned by institutional investors and hedge funds.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals is a biotechnology company focused on the discovery, development and commercialization of DNA-based immunotherapies and vaccines aimed at treating and preventing infectious diseases and cancers. The company leverages proprietary technologies to design synthetic DNA sequences that encode antigens capable of eliciting targeted immune responses. Inovio's business activities span early research through clinical development, with a primary emphasis on advancing candidates against viral pathogens such as SARS-CoV-2, human papillomavirus (HPV), HIV, Ebola, Zika and other emerging threats.

Central to Inovio's platform is its SynCon® technology, which constructs optimized DNA plasmids for broad antigen coverage, and the Cellectra® electroporation device, designed to enhance cellular uptake and expression of DNA vaccines.

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