Inovio Pharmaceuticals COO Acquires $22,185 in Stock (INO)
Inovio Pharmaceuticals (NYSE:INO) COO Niranjan Sardesai bought 2,550 shares of the stock on the open market in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $8.70 per share, with a total value of $22,185.00. Following the completion of the acquisition, the chief operating officer now directly owns 28,000 shares of the company’s stock, valued at approximately $243,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Inovio Pharmaceuticals (NYSE:INO) opened at 9.58 on Thursday. 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 $10.45 and its 200-day moving average is $10.87. The company’s market cap is $578.6 million. Inovio Pharmaceuticals also was the recipient of a significant decrease in short interest during the month of 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. Currently, 19.9% of the company’s stock are sold short. Based on an average daily trading volume, of 2,711,529 shares, the days-to-cover ratio is currently 4.2 days.
Inovio Pharmaceuticals (NYSE:INO) last announced its earnings results 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 investment analysts have rated the stock with a buy rating, The stock 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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