Inovio Pharmaceuticals (NASDAQ:INO) Price Target Cut to $6.00 by Analysts at Royal Bank of Canada

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

Separately, Oppenheimer decreased their price target 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.00.

Inovio Pharmaceuticals Price Performance

INO stock opened at $4.08 on Friday. Inovio Pharmaceuticals has a 1-year low of $4.07 and a 1-year high of $14.75. The business has a 50 day simple moving average of $5.75 and a two-hundred day simple moving average of $8.14. The company has a market capitalization of $105.79 million, a price-to-earnings ratio of -1.12 and a beta of 0.83.

Hedge Funds Weigh In On Inovio Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in INO. Cornercap Investment Counsel Inc. bought a new stake in Inovio Pharmaceuticals in the second quarter worth $184,000. Bank of New York Mellon Corp bought a new position in Inovio Pharmaceuticals during the 2nd quarter valued at about $661,000. American Century Companies Inc. raised its position in Inovio Pharmaceuticals by 62.2% in the 2nd quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 12,100 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in Inovio Pharmaceuticals in the second quarter worth about $88,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Inovio Pharmaceuticals during the second quarter valued at approximately $605,000. 26.79% of the stock is owned by hedge funds and other institutional investors.

About Inovio Pharmaceuticals

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.