Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Position Boosted by Bank of America Corp DE

Bank of America Corp DE lifted its position in Inovio Pharmaceuticals, Inc. (NASDAQ:INO) by 1,035.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 640,987 shares of the biopharmaceutical company’s stock after buying an additional 584,521 shares during the quarter. Bank of America Corp DE owned about 2.46% of Inovio Pharmaceuticals worth $1,173,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Jane Street Group LLC grew its stake in shares of Inovio Pharmaceuticals by 118.2% in the 4th quarter. Jane Street Group LLC now owns 39,704 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 21,512 shares in the last quarter. Northern Trust Corp grew its stake in shares of Inovio Pharmaceuticals by 6.4% in the 4th quarter. Northern Trust Corp now owns 219,057 shares of the biopharmaceutical company’s stock valued at $401,000 after buying an additional 13,269 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Inovio Pharmaceuticals in the 4th quarter valued at approximately $44,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Inovio Pharmaceuticals in the 4th quarter valued at approximately $120,000. Finally, Alpine Global Management LLC bought a new stake in shares of Inovio Pharmaceuticals in the 4th quarter valued at approximately $31,000. Institutional investors own 26.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on INO shares. Wall Street Zen cut Inovio Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, May 12th. Oppenheimer lowered their price target on Inovio Pharmaceuticals from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, May 14th. HC Wainwright restated a “neutral” rating and issued a $3.00 target price on shares of Inovio Pharmaceuticals in a report on Wednesday, March 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 target price on shares of Inovio Pharmaceuticals in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.75.

Inovio Pharmaceuticals Stock Performance

INO opened at $2.27 on Friday. The business has a 50 day moving average price of $1.86 and a 200 day moving average price of $2.19. Inovio Pharmaceuticals, Inc. has a twelve month low of $1.42 and a twelve month high of $12.33. The firm has a market cap of $83.25 million, a P/E ratio of -0.71 and a beta of 1.34.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.23. The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.01 million. As a group, analysts anticipate that Inovio Pharmaceuticals, Inc. will post -4.23 earnings per share for the current fiscal year.

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.