Royal Bank of Canada Issues Pessimistic Forecast for Inovio Pharmaceuticals (NASDAQ:INO) Stock Price

Inovio Pharmaceuticals (NASDAQ:INO) had its price objective cut by Royal Bank of Canada from $7.00 to $6.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a sector perform rating on the biopharmaceutical company’s stock.

Separately, Oppenheimer cut their price target on Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating for the company 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.60.

Inovio Pharmaceuticals Stock Performance

Shares of INO stock traded down $0.50 on Friday, reaching $4.27. The stock had a trading volume of 670,926 shares, compared to its average volume of 402,780. Inovio Pharmaceuticals has a 1 year low of $4.20 and a 1 year high of $14.75. The company has a 50 day simple moving average of $5.75 and a 200 day simple moving average of $8.19.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in Inovio Pharmaceuticals by 177.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,681 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 3,630 shares during the period. MetLife Investment Management LLC grew its position in shares of Inovio Pharmaceuticals by 129.1% during the third quarter. MetLife Investment Management LLC now owns 15,167 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 8,546 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Inovio Pharmaceuticals during the 2nd quarter valued at approximately $82,000. Signature Estate & Investment Advisors LLC purchased a new position in Inovio Pharmaceuticals in the 2nd quarter worth approximately $88,000. Finally, American Century Companies Inc. boosted its stake in Inovio Pharmaceuticals by 62.2% in the 2nd quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 12,100 shares during the period. Institutional investors own 26.79% of the company’s stock.

About Inovio Pharmaceuticals

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.