Royal Bank of Canada Cuts Inovio Pharmaceuticals (NASDAQ:INO) Price Target to $6.00

Inovio Pharmaceuticals (NASDAQ:INO - Get Free Report) had its price objective decreased by analysts at Royal Bank of Canada from $7.00 to $6.00 in a research report issued to clients and investors 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 indicates a potential upside of 39.21% from the company's previous close.

Separately, Oppenheimer dropped their price objective 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. One 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 has a consensus rating of "Hold" and a consensus price target of $43.60.

Inovio Pharmaceuticals Trading Down 9.6 %

Shares of NASDAQ INO traded down $0.46 during mid-day trading on Friday, hitting $4.31. 505,480 shares of the company traded hands, compared to its average volume of 402,043. Inovio Pharmaceuticals has a 1 year low of $4.20 and a 1 year high of $14.75. The business has a 50 day moving average of $5.79 and a two-hundred day moving average of $8.24.

Institutional Trading of Inovio Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at approximately $661,000. Dimensional Fund Advisors LP bought a new stake in Inovio Pharmaceuticals in the second quarter valued at about $605,000. Rhumbline Advisers lifted its stake in Inovio Pharmaceuticals by 5,943.0% in the second quarter. Rhumbline Advisers now owns 38,494 shares of the biopharmaceutical company's stock valued at $311,000 after buying an additional 37,857 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of Inovio Pharmaceuticals in the 2nd quarter worth approximately $184,000. Finally, FMR LLC grew its holdings in shares of Inovio Pharmaceuticals by 370.1% in the 3rd quarter. FMR LLC now owns 27,261 shares of the biopharmaceutical company's stock worth $158,000 after acquiring an additional 21,462 shares during the last quarter. 26.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

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