Insider Buying: Inovio Pharmaceuticals Inc (NASDAQ:INO) CEO Purchases 22,500 Shares of Stock

Inovio Pharmaceuticals Inc (NASDAQ:INO) CEO Jong Joseph Kim bought 22,500 shares of the stock in a transaction on Monday, January 13th. The shares were acquired at an average cost of $3.11 per share, for a total transaction of $69,975.00. Following the completion of the transaction, the chief executive officer now directly owns 1,100,707 shares of the company’s stock, valued at $3,423,198.77. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NASDAQ:INO traded up $0.22 during midday trading on Monday, hitting $3.33. The company’s stock had a trading volume of 1,266,165 shares, compared to its average volume of 1,268,084. The stock has a market capitalization of $311.03 million, a price-to-earnings ratio of -3.17 and a beta of 2.22. The stock’s 50 day simple moving average is $2.89 and its 200 day simple moving average is $2.57. Inovio Pharmaceuticals Inc has a fifty-two week low of $1.91 and a fifty-two week high of $5.11. The company has a debt-to-equity ratio of 2.52, a quick ratio of 5.06 and a current ratio of 5.06.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.01. The company had revenue of $0.87 million for the quarter, compared to the consensus estimate of $2.72 million. Inovio Pharmaceuticals had a negative return on equity of 179.91% and a negative net margin of 1,809.64%. During the same period last year, the business posted ($0.27) earnings per share. As a group, analysts anticipate that Inovio Pharmaceuticals Inc will post -1.08 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Inovio Pharmaceuticals by 4.5% in the second quarter. BlackRock Inc. now owns 7,708,829 shares of the biopharmaceutical company’s stock valued at $22,665,000 after buying an additional 335,356 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Inovio Pharmaceuticals by 5.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,156,350 shares of the biopharmaceutical company’s stock valued at $10,571,000 after buying an additional 272,250 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of Inovio Pharmaceuticals by 5.6% in the third quarter. Nikko Asset Management Americas Inc. now owns 5,156,350 shares of the biopharmaceutical company’s stock valued at $10,571,000 after buying an additional 272,250 shares during the period. Vanguard Group Inc. lifted its stake in shares of Inovio Pharmaceuticals by 0.7% in the second quarter. Vanguard Group Inc. now owns 4,860,200 shares of the biopharmaceutical company’s stock valued at $14,289,000 after buying an additional 35,018 shares during the period. Finally, State Street Corp lifted its stake in shares of Inovio Pharmaceuticals by 0.4% in the third quarter. State Street Corp now owns 1,744,448 shares of the biopharmaceutical company’s stock valued at $3,576,000 after buying an additional 6,998 shares during the period. Institutional investors and hedge funds own 46.37% of the company’s stock.

Several equities analysts have commented on INO shares. Piper Jaffray Companies lowered their target price on shares of Inovio Pharmaceuticals from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Citigroup reaffirmed a “buy” rating and issued a $4.00 price target (down from $7.00) on shares of Inovio Pharmaceuticals in a research report on Monday, September 16th. Roth Capital started coverage on Inovio Pharmaceuticals in a research report on Thursday, December 19th. They issued a “buy” rating and a $13.00 price target on the stock. Maxim Group reaffirmed a “buy” rating on shares of Inovio Pharmaceuticals in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Inovio Pharmaceuticals in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $7.30.

Inovio Pharmaceuticals Company Profile

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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