Inovio Pharmaceuticals Short Interest Up 21.8% in July (INO)
Shares of Inovio Pharmaceuticals (NYSE:INO) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 11,982,183 shares, an increase of 21.8% from the June 30th total of 9,833,973 shares, American Banking News reports. Currently, 21.2% of the shares of the company are sold short. Based on an average daily volume of 999,265 shares, the days-to-cover ratio is presently 12.0 days.
A number of analysts have recently weighed in on INO shares. Analysts at Aegis upgraded shares of Inovio Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $19.00 price target on the stock, up previously from $10.00. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $18.97.
Inovio Pharmaceuticals (NYSE:INO) traded down 0.92% during mid-day trading on Thursday, hitting $12.98. The stock had a trading volume of 3,598,801 shares. Inovio Pharmaceuticals has a 1-year low of $4.88 and a 1-year high of $15.80. The stock has a 50-day moving average of $10.06 and a 200-day moving average of $10.84. The company’s market cap is $780.8 million.
Inovio Pharmaceuticals (NYSE:INO) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.04) by $0.01. The company had revenue of $2.40 million for the quarter, compared to the consensus estimate of $1.41 million. Analysts expect that Inovio Pharmaceuticals will post $-0.66 EPS for the current fiscal year.
Inovio Pharmaceuticals, Inc is engaged in the development of a new generation of vaccines, called synthetic vaccines, focused on cancers and infectious diseases.
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