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

Inovio Pharmaceuticals (NASDAQ:INO) had its price objective reduced by equities researchers at Royal Bank of Canada from $7.00 to $6.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 39.21% from the company’s previous close.

Separately, Oppenheimer dropped their price target on Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.60.

Inovio Pharmaceuticals Stock Performance

Shares of INO stock traded down $0.46 during mid-day trading on Friday, hitting $4.31. The company’s stock had a trading volume of 505,480 shares, compared to its average volume of 402,043. Inovio Pharmaceuticals has a 52 week low of $4.20 and a 52 week high of $14.75. The company’s fifty day simple moving average is $5.79 and its 200-day simple moving average is $8.24.

Institutional Trading of Inovio Pharmaceuticals

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in Inovio Pharmaceuticals by 177.0% in the third 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 in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Inovio Pharmaceuticals by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,167 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 8,546 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Inovio Pharmaceuticals in the second quarter valued at about $82,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Inovio Pharmaceuticals in the second quarter worth $88,000. Finally, American Century Companies Inc. raised its stake in Inovio Pharmaceuticals by 62.2% during the second quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock worth $255,000 after acquiring an additional 12,100 shares in the last quarter. Institutional investors and hedge funds own 26.79% of the company’s stock.

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.