Inovio Pharmaceuticals COO Acquires $22,185 in Stock (INO)
Inovio Pharmaceuticals (NYSE:INO) COO Niranjan Sardesai acquired 2,550 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 $8.70 per share, for a total transaction of $22,185.00. Following the completion of the acquisition, the chief operating officer now directly owns 28,000 shares in the company, valued at approximately $243,600. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Inovio Pharmaceuticals (NYSE:INO) traded up 5.18% during mid-day trading on Wednesday, hitting $9.13. 885,003 shares of the company’s stock traded hands. Inovio Pharmaceuticals has a 1-year low of $4.88 and a 1-year high of $15.80. The stock’s 50-day moving average is $10.4 and its 200-day moving average is $10.88. The company’s market cap is $551.4 million. Inovio Pharmaceuticals also saw a significant 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 trading volume, of 2,711,529 shares, the short-interest ratio is currently 4.2 days. Currently, 19.9% of the company’s stock are sold short.
Inovio Pharmaceuticals (NYSE:INO) last released its 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 $-0.62 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 analysts have rated the stock with a buy rating, Inovio Pharmaceuticals presently has a consensus 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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