Royal Bank of Canada Issues Pessimistic Forecast for Inovio Pharmaceuticals (NASDAQ:INO) Stock Price

Inovio Pharmaceuticals (NASDAQ:INO) had its price objective cut by Royal Bank of Canada from $7.00 to $6.00 in a research note published on Friday,Benzinga reports. They currently have a sector perform rating on the biopharmaceutical company’s stock.

Separately, Oppenheimer lowered their price objective on shares of Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.60.

Inovio Pharmaceuticals Stock Performance

Shares of NASDAQ INO opened at $4.26 on Friday. The company has a market cap of $110.59 million, a PE ratio of -1.18 and a beta of 0.83. Inovio Pharmaceuticals has a 52-week low of $4.20 and a 52-week high of $14.75. The firm’s 50 day moving average price is $5.75 and its 200-day moving average price is $8.14.

Hedge Funds Weigh In On Inovio Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in INO. Geode Capital Management LLC raised its stake in shares of Inovio Pharmaceuticals by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 621,631 shares of the biopharmaceutical company’s stock worth $3,594,000 after acquiring an additional 38,833 shares in the last quarter. Barclays PLC lifted its holdings in shares of Inovio Pharmaceuticals by 282.6% during the third quarter. Barclays PLC now owns 34,003 shares of the biopharmaceutical company’s stock worth $197,000 after purchasing an additional 25,116 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Inovio Pharmaceuticals in the 3rd quarter valued at $379,000. State Street Corp grew its position in Inovio Pharmaceuticals by 11.7% during the 3rd quarter. State Street Corp now owns 490,662 shares of the biopharmaceutical company’s stock worth $2,836,000 after purchasing an additional 51,414 shares during the period. Finally, Atom Investors LP acquired a new stake in Inovio Pharmaceuticals during the third quarter worth about $103,000. Institutional investors own 26.79% of the company’s stock.

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.