BlackRock Inc. reduced its holdings in shares of Inovio Pharmaceuticals Inc (NASDAQ:INO) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,627,505 shares of the biopharmaceutical company’s stock after selling 59,553 shares during the quarter. BlackRock Inc. owned 0.07% of Inovio Pharmaceuticals worth $27,371,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in INO. Bank of New York Mellon Corp lifted its stake in Inovio Pharmaceuticals by 17.4% during the third quarter. Bank of New York Mellon Corp now owns 382,206 shares of the biopharmaceutical company’s stock worth $2,423,000 after purchasing an additional 56,623 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Inovio Pharmaceuticals by 12.4% during the third quarter. Allianz Asset Management GmbH now owns 222,768 shares of the biopharmaceutical company’s stock worth $1,412,000 after purchasing an additional 24,652 shares during the last quarter. Bank of Montreal Can lifted its stake in Inovio Pharmaceuticals by 15.5% during the fourth quarter. Bank of Montreal Can now owns 212,108 shares of the biopharmaceutical company’s stock worth $876,000 after purchasing an additional 28,400 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Inovio Pharmaceuticals by 72.7% during the fourth quarter. Wells Fargo & Company MN now owns 179,008 shares of the biopharmaceutical company’s stock worth $739,000 after purchasing an additional 75,328 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Inovio Pharmaceuticals during the third quarter worth $892,000. Institutional investors own 31.50% of the company’s stock.
Several brokerages recently issued reports on INO. Maxim Group set a $8.00 price objective on Inovio Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday. HC Wainwright set a $13.00 target price on Inovio Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday. BidaskClub upgraded Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada raised their target price on Inovio Pharmaceuticals from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, March 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.07.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. The company had revenue of $8.80 million for the quarter, compared to analysts’ expectations of $9.13 million. Inovio Pharmaceuticals had a negative return on equity of 66.07% and a negative net margin of 208.92%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. equities research analysts anticipate that Inovio Pharmaceuticals Inc will post -1.07 EPS for the current fiscal year.
In other news, CEO Jong Joseph Kim sold 103,750 shares of the firm’s stock in a transaction on Thursday, April 12th. The stock was sold at an average price of $5.14, for a total transaction of $533,275.00. Following the transaction, the chief executive officer now directly owns 2,395,557 shares of the company’s stock, valued at $12,313,162.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.40% of the stock is currently owned by company insiders.
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Inovio Pharmaceuticals Company Profile
Inovio Pharmaceuticals, Inc (Inovio) is a clinical-stage pharmaceutical company, which is involved in developing deoxyribonucleic acid (DNA) immunotherapies and vaccines focused on treating and preventing cancers and infectious diseases. The Company’s DNA-based immunotherapies, in combination with its electroporation delivery devices, generates immune responses, in particular T cells, in the body to fight target diseases.
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