Inovio Pharmaceuticals CEO Purchases $2,265,000 in Stock (INO)
Inovio Pharmaceuticals (NYSE:INO) CEO Jong Joseph Kim bought 250,000 shares of Inovio Pharmaceuticals stock on the open market in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $9.06 per share, for a total transaction of $2,265,000.00. Following the acquisition, the chief executive officer now directly owns 1,491,453 shares of the company’s stock, valued at approximately $13,512,564. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Inovio Pharmaceuticals (NYSE:INO) traded down 3.23% on Tuesday, hitting $8.68. The stock had a trading volume of 1,725,194 shares. Inovio Pharmaceuticals has a 52 week low of $4.88 and a 52 week high of $15.80. The stock’s 50-day moving average is $10.47 and its 200-day moving average is $10.88. The company’s market cap is $522.2 million. Inovio Pharmaceuticals also saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 11,265,935 shares, a decline of 6.0% from the July 15th total of 11,982,183 shares. Based on an average daily volume of 2,711,529 shares, the short-interest ratio is currently 4.2 days. Approximately 19.9% of the company’s stock are short sold.
Inovio Pharmaceuticals (NYSE:INO) last announced its earnings results on Monday, August 11th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.19) by $0.01. The company had revenue of $3.80 million for the quarter, compared to the consensus estimate of $1.80 million. On average, analysts predict that Inovio Pharmaceuticals will post $-0.66 earnings per share for the current fiscal year.
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, July 24th. They now have a $19.00 price target on the stock, up previously from $10.00. Four equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $20.20.
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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