Inovio Pharmaceuticals (NASDAQ:INO) Price Target Cut to $5.00 by Analysts at HC Wainwright

Inovio Pharmaceuticals (NASDAQ:INO) had its target price reduced by HC Wainwright from $12.00 to $5.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 21.65% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada cut their price target on shares of Inovio Pharmaceuticals from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Friday. Oppenheimer reduced their target price on Inovio Pharmaceuticals from $33.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Inovio Pharmaceuticals has an average rating of “Hold” and a consensus target price of $38.00.

Inovio Pharmaceuticals Stock Performance

NASDAQ INO traded down $0.16 during trading hours on Monday, hitting $4.11. 281,042 shares of the company’s stock were exchanged, compared to its average volume of 402,191. The firm has a market capitalization of $106.70 million, a P/E ratio of -1.14 and a beta of 0.83. Inovio Pharmaceuticals has a 12-month low of $4.10 and a 12-month high of $14.75. The business’s 50 day moving average is $5.75 and its 200-day moving average is $8.14.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Inovio Pharmaceuticals by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 621,631 shares of the biopharmaceutical company’s stock valued at $3,594,000 after purchasing an additional 38,833 shares in the last quarter. Barclays PLC lifted its stake in Inovio Pharmaceuticals by 282.6% during the third quarter. Barclays PLC now owns 34,003 shares of the biopharmaceutical company’s stock valued at $197,000 after purchasing an additional 25,116 shares during the last quarter. Wellington Management Group LLP bought a new stake in Inovio Pharmaceuticals during the third quarter worth approximately $379,000. State Street Corp grew its position in Inovio Pharmaceuticals by 11.7% in the third 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, Atom Investors LP bought a new position in shares of Inovio Pharmaceuticals in the third quarter valued at $103,000. 26.79% of the stock is currently owned by institutional investors and hedge funds.

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.