Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Shares Purchased by State Street Corp

State Street Corp boosted its stake in Inovio Pharmaceuticals, Inc. (NASDAQ:INO) by 11.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 490,662 shares of the biopharmaceutical company’s stock after purchasing an additional 51,414 shares during the period. State Street Corp owned about 1.89% of Inovio Pharmaceuticals worth $2,836,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in INO. BNP Paribas Financial Markets lifted its position in shares of Inovio Pharmaceuticals by 177.0% during the third quarter. BNP Paribas Financial Markets now owns 5,681 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 3,630 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Inovio Pharmaceuticals during the 3rd quarter worth approximately $71,000. The Manufacturers Life Insurance Company acquired a new stake in Inovio Pharmaceuticals during the 2nd quarter worth approximately $82,000. MetLife Investment Management LLC boosted its position 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 period. Finally, Atom Investors LP acquired a new position in shares of Inovio Pharmaceuticals in the third quarter worth $103,000. Institutional investors and hedge funds own 26.79% of the company’s stock.

Inovio Pharmaceuticals Price Performance

Shares of NASDAQ INO opened at $1.83 on Wednesday. Inovio Pharmaceuticals, Inc. has a 1 year low of $1.74 and a 1 year high of $14.75. The company has a market capitalization of $47.76 million, a price-to-earnings ratio of -0.53 and a beta of 0.75. The business has a 50-day moving average of $3.99 and a two-hundred day moving average of $6.44.

Analysts Set New Price Targets

INO has been the topic of several analyst reports. Oppenheimer reduced their price objective on Inovio Pharmaceuticals from $33.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, November 18th. Royal Bank of Canada cut their price target on Inovio Pharmaceuticals from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Finally, HC Wainwright decreased their price objective on Inovio Pharmaceuticals from $12.00 to $5.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. 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 data from MarketBeat.com, Inovio Pharmaceuticals presently has an average rating of “Hold” and an average target price of $38.00.

Inovio Pharmaceuticals 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.