Inovio Pharmaceuticals Inc (NASDAQ:INO) Shares Sold by Renaissance Technologies LLC

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Renaissance Technologies LLC trimmed its position in Inovio Pharmaceuticals Inc (NASDAQ:INO) by 62.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 214,681 shares of the biopharmaceutical company’s stock after selling 349,600 shares during the period. Renaissance Technologies LLC owned approximately 0.22% of Inovio Pharmaceuticals worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its stake in Inovio Pharmaceuticals by 64.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 59,800 shares of the biopharmaceutical company’s stock valued at $175,000 after acquiring an additional 23,400 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Inovio Pharmaceuticals by 1,343.3% in the second quarter. JPMorgan Chase & Co. now owns 424,411 shares of the biopharmaceutical company’s stock worth $1,239,000 after buying an additional 395,005 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Inovio Pharmaceuticals by 49.7% in the second quarter. Nikko Asset Management Americas Inc. now owns 4,884,100 shares of the biopharmaceutical company’s stock worth $14,359,000 after buying an additional 1,621,581 shares during the last quarter. Tocqueville Asset Management L.P. raised its holdings in shares of Inovio Pharmaceuticals by 19.9% in the second quarter. Tocqueville Asset Management L.P. now owns 72,300 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 12,000 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of Inovio Pharmaceuticals by 35.0% in the second quarter. ARK Investment Management LLC now owns 3,955,017 shares of the biopharmaceutical company’s stock worth $11,628,000 after buying an additional 1,025,420 shares during the last quarter. Institutional investors own 46.18% of the company’s stock.

Shares of Inovio Pharmaceuticals stock opened at $2.18 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 4.59 and a quick ratio of 4.59. The firm has a fifty day moving average price of $2.23 and a 200 day moving average price of $2.90. Inovio Pharmaceuticals Inc has a 1 year low of $1.91 and a 1 year high of $5.68. The stock has a market cap of $215.89 million, a PE ratio of -2.08 and a beta of 2.07.

Inovio Pharmaceuticals (NASDAQ:INO) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.02). Inovio Pharmaceuticals had a negative return on equity of 142.10% and a negative net margin of 1,560.70%. The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $4.69 million. During the same period last year, the business earned ($0.07) EPS. As a group, equities analysts expect that Inovio Pharmaceuticals Inc will post -1.06 EPS for the current year.

In related news, Director David B. Weiner sold 16,352 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $2.72, for a total transaction of $44,477.44. Following the completion of the transaction, the director now owns 797,110 shares of the company’s stock, valued at $2,168,139.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.90% of the company’s stock.

INO has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating and issued a $4.00 price target (down previously from $7.00) on shares of Inovio Pharmaceuticals in a report on Monday, September 16th. Maxim Group reaffirmed a “buy” rating and issued a $6.00 price target on shares of Inovio Pharmaceuticals in a report on Sunday, August 11th. ValuEngine raised shares of Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. HC Wainwright set a $13.00 price target on shares of Inovio Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Jaffray Companies decreased their price target on shares of Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $6.69.

About Inovio Pharmaceuticals

Inovio Pharmaceuticals, Inc, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of DNA-based immunotherapies and vaccines to prevent and treat cancers and infectious diseases. Its SynCon immunotherapy design has the ability to break the immune system's tolerance of cancerous cells, as well as is intended to facilitate cross-strain protection against known, as well as new unmatched strains of pathogens, such as influenza.

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

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