Short Interest in Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Grows By 7.1%

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 3,750,000 shares, a growth of 7.1% from the October 31st total of 3,500,000 shares. Based on an average daily trading volume, of 336,300 shares, the short-interest ratio is presently 11.2 days. Approximately 14.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Inovio Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings in Inovio Pharmaceuticals by 177.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,681 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 3,630 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Inovio Pharmaceuticals by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 15,167 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 8,546 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $82,000. Signature Estate & Investment Advisors LLC bought a new position in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $88,000. Finally, American Century Companies Inc. raised its holdings in Inovio Pharmaceuticals by 62.2% in the 2nd quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 12,100 shares during the last quarter. 26.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on INO shares. HC Wainwright cut their price objective on Inovio Pharmaceuticals from $12.00 to $5.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Royal Bank of Canada cut their target price on Inovio Pharmaceuticals from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. Finally, Oppenheimer cut their target price on Inovio Pharmaceuticals from $33.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.00.

Inovio Pharmaceuticals Stock Down 1.7 %

NASDAQ INO opened at $4.13 on Thursday. The firm’s fifty day moving average price is $5.15 and its two-hundred day moving average price is $7.48. Inovio Pharmaceuticals has a 1 year low of $3.85 and a 1 year high of $14.75.

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.