Inovio Pharmaceuticals (NASDAQ:INO) Given New $6.00 Price Target at Royal Bank of Canada

Inovio Pharmaceuticals (NASDAQ:INO) had its target price decreased by Royal Bank of Canada from $7.00 to $6.00 in a research note released on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.

Separately, Oppenheimer lowered their price objective on shares of Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.60.

Inovio Pharmaceuticals Price Performance

INO stock traded down $0.50 during midday trading on Friday, reaching $4.27. The company had a trading volume of 670,926 shares, compared to its average volume of 402,780. The firm has a 50-day moving average price of $5.75 and a 200-day moving average price of $8.19. Inovio Pharmaceuticals has a 1 year low of $4.20 and a 1 year high of $14.75.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $661,000. Dimensional Fund Advisors LP purchased a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at $605,000. Wellington Management Group LLP bought a new stake in Inovio Pharmaceuticals in the 3rd quarter worth about $379,000. State Street Corp raised its position in Inovio Pharmaceuticals by 11.7% in the 3rd quarter. State Street Corp now owns 490,662 shares of the biopharmaceutical company’s stock worth $2,836,000 after buying an additional 51,414 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Inovio Pharmaceuticals by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 621,631 shares of the biopharmaceutical company’s stock worth $3,594,000 after buying an additional 38,833 shares during the last quarter. 26.79% of the stock is owned by hedge funds and other institutional investors.

Inovio Pharmaceuticals Company Profile

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.