Rhumbline Advisers Purchases 37,857 Shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO)

Rhumbline Advisers grew its position in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) by 5,943.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,494 shares of the biopharmaceutical company’s stock after buying an additional 37,857 shares during the quarter. Rhumbline Advisers owned 0.15% of Inovio Pharmaceuticals worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its stake in shares of Inovio Pharmaceuticals by 5.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 115,361 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 6,148 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter worth $88,000. Bank of New York Mellon Corp purchased a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter worth $661,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Inovio Pharmaceuticals in the 1st quarter worth $1,482,000. 26.79% of the stock is owned by institutional investors.

Inovio Pharmaceuticals Price Performance

NASDAQ:INO opened at $5.86 on Friday. The business’s 50-day simple moving average is $7.84 and its two-hundred day simple moving average is $9.62. Inovio Pharmaceuticals, Inc. has a 52 week low of $3.89 and a 52 week high of $14.75.

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 return on equity of 99.51% and a negative net margin of 16,238.91%. The firm had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million. During the same period last year, the firm posted ($1.56) earnings per share. As a group, analysts expect that Inovio Pharmaceuticals, Inc. will post -4.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Oppenheimer reduced 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. HC Wainwright restated a “neutral” rating and issued a $15.00 price objective on shares of Inovio Pharmaceuticals in a research note on Monday, July 15th. Finally, Royal Bank of Canada decreased their price target 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. 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 stock. According to MarketBeat, the stock currently has a consensus 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.