Inovio Pharmaceuticals (NASDAQ:INO) Downgraded by Wall Street Zen to Sell

Key Points

• Inovio Pharmaceuticals has been downgraded by Wall Street Zen from a "hold" to a "sell" rating, reflecting concerns about the company's stock performance.
• The stock currently has a consensus rating of "Hold" and an average price target of $8.80, with varying ratings from other analysts.
• Institutional investors own 26.79% of Inovio Pharmaceuticals' stock, showing significant interest from hedge funds and investment firms.

Wall Street Zen lowered shares of Inovio Pharmaceuticals (NASDAQ:INO - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

INO has been the subject of several other reports. HC Wainwright reissued a "neutral" rating and issued a $3.00 price objective on shares of Inovio Pharmaceuticals in a report on Thursday, August 14th. Piper Sandler began coverage on Inovio Pharmaceuticals in a report on Wednesday, July 9th. They issued an "overweight" rating and a $5.00 price objective for the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $5.00 price objective on shares of Inovio Pharmaceuticals in a report on Wednesday, May 14th. Finally, Oppenheimer lowered their price objective on Inovio Pharmaceuticals from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $8.80.

Inovio Pharmaceuticals Stock Performance

Shares of NASDAQ INO traded down $0.09 during midday trading on Friday, reaching $1.85. 1,091,322 shares of the company's stock were exchanged, compared to its average volume of 1,906,226. Inovio Pharmaceuticals has a 52-week low of $1.30 and a 52-week high of $7.77. The stock has a market capitalization of $67.85 million, a PE ratio of -0.71 and a beta of 1.38. The business's fifty day moving average price is $1.66 and its two-hundred day moving average price is $1.83.

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.63) by $0.02. Analysts predict that Inovio Pharmaceuticals will post -4.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Several institutional investors have recently made changes to their positions in INO. Deep Track Capital LP grew its holdings in shares of Inovio Pharmaceuticals by 72.9% during the fourth quarter. Deep Track Capital LP now owns 3,119,162 shares of the biopharmaceutical company's stock valued at $5,708,000 after purchasing an additional 1,314,796 shares during the last quarter. Stonepine Capital Management LLC bought a new position in shares of Inovio Pharmaceuticals during the fourth quarter valued at approximately $1,922,000. Bank of America Corp DE boosted its position in shares of Inovio Pharmaceuticals by 1,035.2% during the fourth quarter. Bank of America Corp DE now owns 640,987 shares of the biopharmaceutical company's stock worth $1,173,000 after buying an additional 584,521 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Inovio Pharmaceuticals during the fourth quarter worth approximately $412,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Inovio Pharmaceuticals during the second quarter worth approximately $234,000. 26.79% of the stock is owned by institutional investors.

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.