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

Bank of New York Mellon Corp bought a new position in Inovio Pharmaceuticals, Inc. (NASDAQ:INO) during the 2nd quarter, Holdings Channel.com reports. The fund bought 81,835 shares of the biopharmaceutical company’s stock, valued at approximately $661,000.

Separately, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Inovio Pharmaceuticals by 5.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 115,361 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 6,148 shares during the last quarter. 26.79% of the stock is currently owned by institutional investors.

Inovio Pharmaceuticals Stock Down 9.3 %

NASDAQ:INO opened at $5.88 on Tuesday. The business’s 50-day simple moving average is $8.23 and its two-hundred day simple moving average is $9.75. Inovio Pharmaceuticals, Inc. has a 52 week low of $3.89 and a 52 week high of $14.75. The stock has a market cap of $152.23 million, a PE ratio of -1.60 and a beta of 0.83.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.09). Inovio Pharmaceuticals had a negative net margin of 16,238.91% and a negative return on equity of 99.51%. The business had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.10 million. During the same period last year, the business posted ($1.56) EPS. Sell-side analysts anticipate that Inovio Pharmaceuticals, Inc. will post -4.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on INO. Royal Bank of Canada decreased their target price on Inovio Pharmaceuticals from $11.00 to $8.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. HC Wainwright reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of Inovio Pharmaceuticals in a research note on Monday, July 15th. Finally, Oppenheimer cut their price objective on Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. One investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.00.

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.