Mid Atlantic Financial Management Inc. ADV bought a new position in shares of Inovio Pharmaceuticals Inc (NASDAQ:INO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,475 shares of the biopharmaceutical company’s stock, valued at approximately $282,000.
Other large investors have also recently made changes to their positions in the company. Cowen Prime Services LLC bought a new position in shares of Inovio Pharmaceuticals in the 2nd quarter worth about $27,000. Cullen Frost Bankers Inc. purchased a new stake in Inovio Pharmaceuticals in the second quarter worth about $27,000. Optimum Investment Advisors bought a new position in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $32,000. IFP Advisors Inc lifted its holdings in shares of Inovio Pharmaceuticals by 181.8% during the second quarter. IFP Advisors Inc now owns 1,550 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC boosted its position in shares of Inovio Pharmaceuticals by 44.6% in the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 3,102 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 957 shares in the last quarter. 27.80% of the stock is owned by hedge funds and other institutional investors.
Shares of INO stock opened at $15.04 on Tuesday. The company has a quick ratio of 10.06, a current ratio of 10.06 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $22.14 and a 200-day moving average price of $12.80. Inovio Pharmaceuticals Inc has a 52 week low of $1.91 and a 52 week high of $33.79. The firm has a market capitalization of $2.48 billion, a PE ratio of -250.62 and a beta of 1.32.
Inovio Pharmaceuticals (NASDAQ:INO) last issued its earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.66). The company had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $2.61 million. Inovio Pharmaceuticals had a negative return on equity of 52.48% and a net margin of 1,291.83%. The company’s revenue for the quarter was up 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.30) EPS. Analysts anticipate that Inovio Pharmaceuticals Inc will post -0.83 earnings per share for the current year.
In other news, CFO Peter Kies sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $24.95, for a total value of $873,250.00. Following the transaction, the chief financial officer now owns 154,290 shares in the company, valued at approximately $3,849,535.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laurent Humeau sold 19,467 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $19.06, for a total transaction of $371,041.02. Following the completion of the transaction, the insider now directly owns 43,966 shares in the company, valued at approximately $837,991.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 208,934 shares of company stock worth $4,570,956. Company insiders own 4.00% of the company’s stock.
INO has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of Inovio Pharmaceuticals in a research note on Tuesday, June 30th. Stifel Nicolaus lowered their price target on Inovio Pharmaceuticals from $24.00 to $16.00 in a research report on Tuesday, August 11th. Maxim Group downgraded shares of Inovio Pharmaceuticals from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Wednesday, July 1st. BidaskClub lowered shares of Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Roth Capital downgraded shares of Inovio Pharmaceuticals from a “neutral” rating to a “sell” rating and set a $11.00 target price on the stock. in a research note on Wednesday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.
Inovio Pharmaceuticals 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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