Inovio Pharmaceuticals Inc (NASDAQ:INO) Short Interest Down 14.7% in June

Inovio Pharmaceuticals Inc (NASDAQ:INO) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 11,738,900 shares, a drop of 14.7% from the May 30th total of 13,763,100 shares. Currently, 13.2% of the shares of the company are sold short. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 10.8 days.

INO has been the subject of several research reports. Zacks Investment Research cut Hanger from a “hold” rating to a “sell” rating in a research report on Tuesday, May 28th. Cantor Fitzgerald initiated coverage on Inovio Pharmaceuticals in a research note on Monday, March 25th. They set an “overweight” rating and a $3.62 price objective for the company. HC Wainwright set a $4.00 price objective on Uranium Energy and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Maxim Group reiterated a “buy” rating and set a $8.00 price objective on shares of Inovio Pharmaceuticals in a research note on Wednesday, April 3rd. Finally, BidaskClub lowered Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $7.22.

In related news, CEO Jong Joseph Kim sold 2,129,553 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $2.36, for a total value of $5,025,745.08. Following the completion of the transaction, the chief executive officer now directly owns 1,911,055 shares of the company’s stock, valued at $4,510,089.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Laurent Humeau bought 20,000 shares of Inovio Pharmaceuticals stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $2.50 per share, with a total value of $50,000.00. Following the completion of the transaction, the insider now owns 45,833 shares of the company’s stock, valued at $114,582.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 2,866,321 shares of company stock valued at $7,055,433. 7.90% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Inovio Pharmaceuticals during the first quarter worth $40,000. Amalgamated Bank acquired a new stake in shares of Inovio Pharmaceuticals in the fourth quarter valued at $50,000. M Holdings Securities Inc. acquired a new stake in shares of Inovio Pharmaceuticals in the first quarter valued at $54,000. Paloma Partners Management Co increased its stake in shares of Inovio Pharmaceuticals by 38.7% in the fourth quarter. Paloma Partners Management Co now owns 16,201 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 4,522 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Inovio Pharmaceuticals by 58,648.4% in the first quarter. BNP Paribas Arbitrage SA now owns 18,212 shares of the biopharmaceutical company’s stock valued at $68,000 after buying an additional 18,181 shares in the last quarter. Hedge funds and other institutional investors own 47.24% of the company’s stock.

Inovio Pharmaceuticals stock traded up $0.06 during mid-day trading on Friday, hitting $2.99. 465,048 shares of the company were exchanged, compared to its average volume of 1,199,747. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.92 and a quick ratio of 4.92. The business has a fifty day moving average of $2.75. Inovio Pharmaceuticals has a 1-year low of $2.15 and a 1-year high of $6.30. The company has a market capitalization of $293.12 million, a P/E ratio of -2.85 and a beta of 2.03.

Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.01). Inovio Pharmaceuticals had a negative return on equity of 97.95% and a negative net margin of 295.24%. The company had revenue of $2.83 million for the quarter, compared to analyst estimates of $4.44 million. Research analysts anticipate that Inovio Pharmaceuticals will post -1.01 earnings per share for the current year.

About Inovio Pharmaceuticals

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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