The Manufacturers Life Insurance Company Takes Position in Inovio Pharmaceuticals, Inc. (NASDAQ:INO)

The Manufacturers Life Insurance Company purchased a new position in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,169 shares of the biopharmaceutical company’s stock, valued at approximately $82,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in Inovio Pharmaceuticals during the 1st quarter worth $1,482,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter worth about $184,000. American Century Companies Inc. grew its holdings in shares of Inovio Pharmaceuticals by 62.2% during the second quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock worth $255,000 after buying an additional 12,100 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Inovio Pharmaceuticals in the 2nd quarter valued at about $661,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in Inovio Pharmaceuticals during the 2nd quarter valued at approximately $88,000. Hedge funds and other institutional investors own 26.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on INO shares. Oppenheimer lowered their target price on Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. HC Wainwright reiterated a “neutral” rating and issued a $15.00 price objective on shares of Inovio Pharmaceuticals in a research report on Monday, July 15th. Finally, Royal Bank of Canada dropped their price objective on shares of Inovio Pharmaceuticals from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.80.

Inovio Pharmaceuticals Price Performance

INO opened at $5.61 on Monday. The business has a 50 day simple moving average of $6.53 and a 200-day simple moving average of $8.92. Inovio Pharmaceuticals, Inc. has a 12 month low of $3.89 and a 12 month high of $14.75. The stock has a market capitalization of $145.36 million, a P/E ratio of -1.51 and a beta of 0.82.

Inovio Pharmaceuticals (NASDAQ:INO) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.09). The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million. During the same period in the prior year, the business posted ($1.56) earnings per share. Research analysts anticipate that Inovio Pharmaceuticals, Inc. will post -4.64 EPS for the current year.

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.