Inovio Pharmaceuticals Sees Large Drop in Short Interest (INO)
Shares of Inovio Pharmaceuticals (NYSE:INO) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 11,265,935 shares, a decrease of 6.0% from the July 15th total of 11,982,183 shares, Analyst Ratings.Net reports. Based on an average daily volume of 2,711,529 shares, the short-interest ratio is presently 4.2 days. Currently, 19.9% of the company’s stock are short sold.
A number of research firms have recently commented on INO. 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 analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $20.20.
Shares of Inovio Pharmaceuticals (NYSE:INO) opened at 8.97 on Tuesday. Inovio Pharmaceuticals has a 52-week low of $4.88 and a 52-week high of $15.80. The stock has a 50-day moving average of $10.47 and a 200-day moving average of $10.88. The company’s market cap is $539.6 million.
Inovio Pharmaceuticals (NYSE:INO) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the 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.
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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