Inovio Pharmaceuticals, Inc. (NASDAQ:INO) Short Interest Update

Inovio Pharmaceuticals, Inc. (NASDAQ:INO - Get Free Report) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,750,000 shares, an increase 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 days-to-cover ratio is presently 11.2 days. Approximately 14.5% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Inovio Pharmaceuticals from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research report on Friday, November 15th. Oppenheimer dropped their price objective on shares of Inovio Pharmaceuticals from $33.00 to $15.00 and set an "outperform" rating for the company in a research note on Monday, November 18th. Finally, HC Wainwright lowered their target price on shares of 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 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $38.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Inovio Pharmaceuticals by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 621,631 shares of the biopharmaceutical company's stock worth $3,594,000 after acquiring an additional 38,833 shares during the last quarter. State Street Corp increased its stake in shares of Inovio Pharmaceuticals by 11.7% in the 3rd quarter. State Street Corp now owns 490,662 shares of the biopharmaceutical company's stock worth $2,836,000 after acquiring an additional 51,414 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter worth $661,000. Dimensional Fund Advisors LP acquired a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter worth $605,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Inovio Pharmaceuticals in the 3rd quarter worth $379,000. Hedge funds and other institutional investors own 26.79% of the company's stock.

Inovio Pharmaceuticals Trading Down 3.4 %

Inovio Pharmaceuticals stock traded down $0.15 during mid-day trading on Tuesday, hitting $4.20. The company had a trading volume of 512,494 shares, compared to its average volume of 404,517. Inovio Pharmaceuticals has a 12-month low of $3.85 and a 12-month high of $14.75. The company's fifty day moving average is $5.21 and its 200-day moving average is $7.56.

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.