Royal Bank of Canada Issues Pessimistic Forecast for Inovio Pharmaceuticals (NASDAQ:INO) Stock Price

Inovio Pharmaceuticals (NASDAQ:INO) had its target price reduced by Royal Bank of Canada from $7.00 to $6.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 40.68% from the stock’s current price.

Separately, Oppenheimer cut their price target on shares of Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.60.

Inovio Pharmaceuticals Stock Down 10.6 %

NASDAQ:INO opened at $4.27 on Friday. The company has a 50-day moving average of $5.75 and a 200-day moving average of $8.17. Inovio Pharmaceuticals has a 52 week low of $4.20 and a 52 week high of $14.75.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Inovio Pharmaceuticals by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 621,631 shares of the biopharmaceutical company’s stock worth $3,594,000 after buying an additional 38,833 shares during the period. State Street Corp grew its position in shares of Inovio Pharmaceuticals by 11.7% during the 3rd quarter. State Street Corp now owns 490,662 shares of the biopharmaceutical company’s stock worth $2,836,000 after buying an additional 51,414 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Inovio Pharmaceuticals during the 2nd quarter worth approximately $661,000. Dimensional Fund Advisors LP acquired a new stake in shares of Inovio Pharmaceuticals during the 2nd quarter worth approximately $605,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Inovio Pharmaceuticals during the 3rd quarter worth approximately $379,000. Institutional investors and hedge funds own 26.79% of the company’s stock.

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.