Virginia Retirement Systems ET AL Takes Position in Inovio Pharmaceuticals, Inc. (INO)

Virginia Retirement Systems ET AL bought a new position in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,000 shares of the biopharmaceutical company’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlueCrest Capital Management Ltd purchased a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at about $107,000. Emerald Advisers Inc. PA raised its holdings in Inovio Pharmaceuticals by 84.0% in the 3rd quarter. Emerald Advisers Inc. PA now owns 20,323 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 9,280 shares during the period. First Interstate Bank raised its holdings in Inovio Pharmaceuticals by 291.9% in the 3rd quarter. First Interstate Bank now owns 24,300 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 18,100 shares during the period. PNC Financial Services Group Inc. raised its holdings in Inovio Pharmaceuticals by 5.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 21,000 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 1,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Inovio Pharmaceuticals in the 2nd quarter valued at about $171,000. 32.27% of the stock is currently owned by institutional investors.

Shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) opened at $4.28 on Friday. Inovio Pharmaceuticals, Inc. has a one year low of $4.20 and a one year high of $9.86.

Inovio Pharmaceuticals (NASDAQ:INO) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.15). Inovio Pharmaceuticals had a negative return on equity of 72.19% and a negative net margin of 221.55%. The firm had revenue of $2.60 million for the quarter, compared to analysts’ expectations of $10.27 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The firm’s quarterly revenue was down 79.2% on a year-over-year basis. equities analysts predict that Inovio Pharmaceuticals, Inc. will post -1.12 earnings per share for the current year.

Several analysts recently issued reports on INO shares. Citigroup started coverage on shares of Inovio Pharmaceuticals in a report on Wednesday, September 6th. They issued a “buy” rating and a $10.00 price objective on the stock. BidaskClub lowered shares of Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, October 27th. HC Wainwright set a $13.00 price objective on shares of Inovio Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 25th. Maxim Group restated a “buy” rating and issued a $12.00 price objective on shares of Inovio Pharmaceuticals in a report on Tuesday, September 12th. Finally, Zacks Investment Research lowered shares of Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $19.16.

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About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc (Inovio) is a clinical-stage pharmaceutical company, which is involved in developing deoxyribonucleic acid (DNA) immunotherapies and vaccines focused on treating and preventing cancers and infectious diseases. The Company’s DNA-based immunotherapies, in combination with its electroporation delivery devices, generates immune responses, in particular T cells, in the body to fight target diseases.

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Institutional Ownership by Quarter for Inovio Pharmaceuticals (NASDAQ:INO)

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