Inovio Pharmaceuticals Inc (INO) Sees Large Growth in Short Interest

Inovio Pharmaceuticals Inc (NASDAQ:INO) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 12,095,842 shares, a growth of 28.8% from the February 28th total of 9,393,180 shares. Approximately 13.6% of the shares of the stock are short sold. Based on an average trading volume of 1,718,791 shares, the days-to-cover ratio is presently 7.0 days.

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. bought a new position in Inovio Pharmaceuticals during the fourth quarter worth about $495,000. Geode Capital Management LLC raised its position in shares of Inovio Pharmaceuticals by 14.2% during the fourth quarter. Geode Capital Management LLC now owns 1,004,095 shares of the biopharmaceutical company’s stock worth $4,016,000 after purchasing an additional 124,966 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Inovio Pharmaceuticals by 41.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 737,962 shares of the biopharmaceutical company’s stock worth $2,952,000 after purchasing an additional 217,536 shares during the period. Amalgamated Bank acquired a new stake in shares of Inovio Pharmaceuticals during the fourth quarter worth about $50,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Inovio Pharmaceuticals by 14.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 224,765 shares of the biopharmaceutical company’s stock worth $899,000 after purchasing an additional 29,136 shares during the period. Hedge funds and other institutional investors own 36.43% of the company’s stock.

Inovio Pharmaceuticals stock traded up $0.01 during mid-day trading on Friday, hitting $3.73. The stock had a trading volume of 1,282,845 shares, compared to its average volume of 1,174,522. The stock has a market cap of $364.15 million, a price-to-earnings ratio of -3.55 and a beta of 1.72. Inovio Pharmaceuticals has a 12 month low of $3.02 and a 12 month high of $6.30.

Inovio Pharmaceuticals (NASDAQ:INO) last posted its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.03). Inovio Pharmaceuticals had a negative net margin of 318.11% and a negative return on equity of 93.39%. The firm had revenue of $2.50 million during the quarter, compared to the consensus estimate of $2.69 million. During the same quarter in the prior year, the business earned ($0.23) EPS. Research analysts predict that Inovio Pharmaceuticals will post -0.99 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on INO. Zacks Investment Research upgraded Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Cantor Fitzgerald assumed coverage on Inovio Pharmaceuticals in a research note on Monday, March 25th. They issued an “overweight” rating and a $3.62 target price for the company. BidaskClub upgraded Inovio Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 27th. HC Wainwright set a $13.00 price target on Inovio Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Maxim Group set a $8.00 price target on Inovio Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, February 20th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $7.57.

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Inovio Pharmaceuticals Company 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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