Inovio Pharmaceuticals (NASDAQ:INO) Shares Gap Up to $3.02

Inovio Pharmaceuticals Inc (NASDAQ:INO) gapped up before the market opened on Thursday . The stock had previously closed at $3.40, but opened at $3.02. Inovio Pharmaceuticals shares last traded at $3.00, with a volume of 63,354 shares trading hands.

A number of analysts have weighed in on the stock. HC Wainwright set a $13.00 target price on shares of Inovio Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, April 22nd. Cantor Fitzgerald assumed coverage on shares of Inovio Pharmaceuticals in a report on Monday, March 25th. They set an “overweight” rating and a $3.62 target price on the stock. BidaskClub cut shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, June 1st. Finally, Maxim Group reissued a “buy” rating and set a $8.00 target price on shares of Inovio Pharmaceuticals in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $7.22.

The firm has a market capitalization of $286.26 million, a P/E ratio of -2.80 and a beta of 1.96. The firm has a fifty day simple moving average of $2.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.92 and a quick ratio of 4.92.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.01). The business had revenue of $2.83 million for the quarter, compared to analyst estimates of $4.44 million. Inovio Pharmaceuticals had a negative return on equity of 97.95% and a negative net margin of 295.24%. Equities research analysts forecast that Inovio Pharmaceuticals Inc will post -1.01 EPS for the current fiscal year.

In related news, CEO Jong Joseph Kim sold 2,129,553 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $2.36, for a total value of $5,025,745.08. Following the sale, the chief executive officer now owns 1,911,055 shares of the company’s stock, valued at approximately $4,510,089.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Laurent Humeau acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $2.50 per share, for a total transaction of $50,000.00. Following the acquisition, the insider now owns 45,833 shares in the company, valued at $114,582.50. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,866,321 shares of company stock worth $7,055,433. Corporate insiders own 7.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in INO. SG Americas Securities LLC acquired a new stake in shares of Inovio Pharmaceuticals in the 1st quarter worth about $40,000. Amalgamated Bank acquired a new stake in shares of Inovio Pharmaceuticals in the 4th quarter worth about $50,000. M Holdings Securities Inc. acquired a new stake in shares of Inovio Pharmaceuticals in the 1st quarter worth about $54,000. Paloma Partners Management Co increased its holdings in shares of Inovio Pharmaceuticals by 38.7% in the 4th quarter. Paloma Partners Management Co now owns 16,201 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 4,522 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Inovio Pharmaceuticals by 58,648.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 18,212 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 18,181 shares during the period. 47.24% of the stock is currently owned by institutional investors and hedge funds.

Inovio Pharmaceuticals Company Profile (NASDAQ:INO)

Inovio Pharmaceuticals, Inc, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of DNA-based immunotherapies and vaccines to prevent and treat cancers and infectious diseases. Its SynCon immunotherapy design has the ability to break the immune system's tolerance of cancerous cells, as well as is intended to facilitate cross-strain protection against known, as well as new unmatched strains of pathogens, such as influenza.

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