Inovio Pharmaceuticals Sees Large Growth in Short Interest (INO)
Shares of Inovio Pharmaceuticals (NYSE:INO) were the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 11,425,295 shares, an increase of 1.4% from the July 31st total of 11,265,935 shares, Analyst Ratings Net reports. Based on an average daily volume of 1,451,561 shares, the days-to-cover ratio is currently 7.9 days. Approximately 20.3% of the shares of the company are sold short.
In other Inovio Pharmaceuticals news, Director Morton Collins bought 8,000 shares of Inovio Pharmaceuticals stock on the open market in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average price of $10.01 per share, with a total value of $80,080.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. 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 research analysts have rated the stock with a buy rating, Inovio Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $20.20.
Shares of Inovio Pharmaceuticals (NYSE:INO) traded down 1.99% during mid-day trading on Tuesday, hitting $10.32. 911,942 shares of the company’s stock traded hands. Inovio Pharmaceuticals has a 52 week low of $6.52 and a 52 week high of $15.80. The stock has a 50-day moving average of $10.33 and a 200-day moving average of $10.87. The company’s market cap is $623.3 million.
Inovio Pharmaceuticals (NYSE:INO) last issued its quarterly earnings data 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 $-0.63 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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