Inovio Pharmaceuticals Inc (INO) Stake Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in Inovio Pharmaceuticals Inc (NASDAQ:INO) by 10.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,681 shares of the biopharmaceutical company’s stock after selling 38,100 shares during the period. Renaissance Technologies LLC owned about 0.34% of Inovio Pharmaceuticals worth $1,222,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Levin Capital Strategies L.P. raised its holdings in shares of Inovio Pharmaceuticals by 80.5% during the second quarter. Levin Capital Strategies L.P. now owns 37,000 shares of the biopharmaceutical company’s stock worth $145,000 after acquiring an additional 16,500 shares in the last quarter. Emerald Advisers Inc. PA purchased a new stake in shares of Inovio Pharmaceuticals during the second quarter worth $228,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Inovio Pharmaceuticals by 50.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 101,225 shares of the biopharmaceutical company’s stock worth $397,000 after acquiring an additional 33,825 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Inovio Pharmaceuticals by 23.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 412,279 shares of the biopharmaceutical company’s stock worth $1,942,000 after acquiring an additional 77,277 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Inovio Pharmaceuticals by 156.7% during the first quarter. UBS Group AG now owns 442,893 shares of the biopharmaceutical company’s stock worth $2,086,000 after acquiring an additional 270,373 shares in the last quarter. 31.50% of the stock is owned by institutional investors and hedge funds.

In other Inovio Pharmaceuticals news, CEO Jong Joseph Kim sold 49,060 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $5.37, for a total transaction of $263,452.20. Following the transaction, the chief executive officer now directly owns 2,357,554 shares in the company, valued at $12,660,064.98. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.40% of the stock is owned by company insiders.

Shares of NASDAQ:INO opened at $4.93 on Thursday. Inovio Pharmaceuticals Inc has a 1 year low of $3.64 and a 1 year high of $6.30. The firm has a market cap of $461.14 million, a P/E ratio of -4.52 and a beta of 1.74.

Inovio Pharmaceuticals (NASDAQ:INO) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.27. Inovio Pharmaceuticals had a negative return on equity of 71.53% and a negative net margin of 252.95%. The company had revenue of $24.45 million for the quarter, compared to analyst estimates of $2.13 million. As a group, analysts predict that Inovio Pharmaceuticals Inc will post -1.06 EPS for the current year.

Several brokerages recently issued reports on INO. BidaskClub upgraded Inovio Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. ValuEngine upgraded Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. HC Wainwright set a $13.00 price objective on Inovio Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, October 9th. Finally, Stifel Nicolaus began coverage on Inovio Pharmaceuticals in a report on Tuesday, October 2nd. They set a “buy” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.75.

Inovio Pharmaceuticals Company Profile

Inovio Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops active DNA immunotherapies and vaccines to prevent and treat cancers and infectious diseases. Its SynCon immunotherapy design has the ability to break the immune system's tolerance of cancerous cells, as well as is intended to facilitate cross-strain protection against known, as well as new unmatched strains of pathogens, such as influenza.

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Institutional Ownership by Quarter for Inovio Pharmaceuticals (NASDAQ:INO)

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