Inovio Pharmaceuticals (NASDAQ:INO) Share Price Passes Above 200-Day Moving Average – What’s Next?

Inovio Pharmaceuticals, Inc. (NASDAQ:INO)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.23 and traded as high as $1.27. Inovio Pharmaceuticals shares last traded at $1.24, with a volume of 2,889,868 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on INO. Zacks Research upgraded Inovio Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Inovio Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. HC Wainwright restated a “neutral” rating on shares of Inovio Pharmaceuticals in a research report on Thursday, August 13th. Finally, Jefferies Financial Group raised Inovio Pharmaceuticals from a “hold” rating to a “positive” rating and upped their target price for the stock from $1.80 to $3.00 in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.17.

Inovio Pharmaceuticals Trading Up 2.5%

The firm’s fifty day moving average price is $1.10 and its 200 day moving average price is $1.23. The stock has a market capitalization of $128.22 million, a price-to-earnings ratio of -1.36 and a beta of 1.63.

Inovio Pharmaceuticals (NASDAQ:INO) last posted its earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.15. On average, analysts forecast that Inovio Pharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter worth about $37,000. Squarepoint Ops LLC increased its stake in Inovio Pharmaceuticals by 46.5% during the 2nd quarter. Squarepoint Ops LLC now owns 36,391 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 11,554 shares during the period. Headlands Technologies LLC purchased a new stake in Inovio Pharmaceuticals during the 2nd quarter worth approximately $33,000. Eversept Partners LP acquired a new stake in Inovio Pharmaceuticals during the 1st quarter worth approximately $1,802,000. Finally, Renaissance Technologies LLC lifted its holdings in Inovio Pharmaceuticals by 16.4% during the 1st quarter. Renaissance Technologies LLC now owns 643,777 shares of the biopharmaceutical company’s stock worth $1,120,000 after buying an additional 90,613 shares in the last quarter. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

Inovio Pharmaceuticals Company Profile

Inovio Pharmaceuticals, Inc is a biotechnology company focused on developing DNA medicines designed to treat and prevent serious diseases. Its platform uses synthetic DNA plasmids to instruct cells to produce targeted proteins, with delivery supported by its CELLECTRA electroporation devices. The company’s research has included candidates for cancer, infectious diseases and human papillomavirus (HPV)-related conditions.

Inovio’s pipeline has included INO-3107, an investigational DNA immunotherapy for recurrent respiratory papillomatosis, a rare disease caused by HPV, as well as other development programs targeting cancers and infectious diseases.