State Board of Administration of Florida Retirement System boosted its position in Inovio Pharmaceuticals Inc. (NASDAQ:INO) by 11.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 26,730 shares of the biopharmaceutical company’s stock after buying an additional 2,768 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Inovio Pharmaceuticals were worth $247,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP boosted its stake in Inovio Pharmaceuticals by 3,878.4% in the second quarter. Quantbot Technologies LP now owns 11,617 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 11,325 shares in the last quarter. Strs Ohio acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $151,000. Fox Run Management L.L.C. acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $249,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Inovio Pharmaceuticals by 34.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 41,000 shares of the biopharmaceutical company’s stock valued at $387,000 after buying an additional 10,500 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its stake in shares of Inovio Pharmaceuticals by 1.7% in the second quarter. Tocqueville Asset Management L.P. now owns 71,600 shares of the biopharmaceutical company’s stock valued at $662,000 after buying an additional 1,200 shares during the period. 28.59% of the stock is currently owned by institutional investors.
Shares of Inovio Pharmaceuticals Inc. (NASDAQ:INO) traded down 5.74% during trading on Monday, reaching $8.05. 641,766 shares of the company traded hands. The stock’s market capitalization is $592.06 million. The firm’s 50-day moving average is $9.25 and its 200-day moving average is $9.61. Inovio Pharmaceuticals Inc. has a 12-month low of $4.50 and a 12-month high of $11.69.
Inovio Pharmaceuticals (NASDAQ:INO) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.05. The business earned $6.20 million during the quarter, compared to analysts’ expectations of $4.95 million. Inovio Pharmaceuticals had a negative return on equity of 22.29% and a negative net margin of 88.19%. Inovio Pharmaceuticals’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. On average, equities analysts predict that Inovio Pharmaceuticals Inc. will post ($0.93) earnings per share for the current fiscal year.
INO has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Vetr lowered shares of Inovio Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $11.11 price target on the stock. in a research note on Monday, August 1st. HC Wainwright assumed coverage on shares of Inovio Pharmaceuticals in a research note on Monday, August 29th. They issued a “buy” rating and a $17.00 price target on the stock. Brean Capital assumed coverage on shares of Inovio Pharmaceuticals in a research note on Tuesday, October 4th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price target on shares of Inovio Pharmaceuticals in a research note on Sunday, July 17th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Inovio Pharmaceuticals presently has an average rating of “Buy” and an average target price of $16.39.
In related news, COO Niranjan Sardesai sold 21,800 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $9.30, for a total transaction of $202,740.00. Following the completion of the transaction, the chief operating officer now owns 70,234 shares of the company’s stock, valued at $653,176.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.90% of the company’s stock.
About Inovio Pharmaceuticals
Inovio Pharmaceuticals, Inc (Inovio) is a bio-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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