Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Stake Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) by 22.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,422 shares of the biopharmaceutical company’s stock after acquiring an additional 13,784 shares during the quarter. Bank of New York Mellon Corp owned about 0.21% of Inovio Pharmaceuticals worth $123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INO. Deep Track Capital LP grew its holdings in shares of Inovio Pharmaceuticals by 72.9% during the fourth quarter. Deep Track Capital LP now owns 3,119,162 shares of the biopharmaceutical company’s stock valued at $5,708,000 after buying an additional 1,314,796 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of Inovio Pharmaceuticals in the 4th quarter worth about $1,922,000. Bank of America Corp DE lifted its position in Inovio Pharmaceuticals by 1,035.2% in the 4th quarter. Bank of America Corp DE now owns 640,987 shares of the biopharmaceutical company’s stock valued at $1,173,000 after acquiring an additional 584,521 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Inovio Pharmaceuticals in the 4th quarter valued at about $412,000. Finally, Deutsche Bank AG boosted its stake in Inovio Pharmaceuticals by 524.6% during the 4th quarter. Deutsche Bank AG now owns 89,864 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 75,477 shares during the last quarter. Institutional investors own 26.79% of the company’s stock.

Wall Street Analysts Forecast Growth

INO has been the topic of a number of recent analyst reports. Piper Sandler assumed coverage on shares of Inovio Pharmaceuticals in a research report on Wednesday, July 9th. They set an “overweight” rating and a $5.00 price target on the stock. Oppenheimer dropped their target price on shares of Inovio Pharmaceuticals from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 14th. Royal Bank Of Canada restated a “sector perform” rating and issued a $5.00 target price on shares of Inovio Pharmaceuticals in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Inovio Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $8.80.

Inovio Pharmaceuticals Stock Performance

Inovio Pharmaceuticals stock opened at $1.46 on Thursday. Inovio Pharmaceuticals, Inc. has a fifty-two week low of $1.30 and a fifty-two week high of $9.10. The stock has a market cap of $53.54 million, a P/E ratio of -0.46 and a beta of 1.38. The firm’s fifty day moving average price is $1.75 and its 200-day moving average price is $1.86.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.23. The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.01 million. On average, analysts predict that Inovio Pharmaceuticals, Inc. will post -4.23 earnings per share for the current year.

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.