The Manufacturers Life Insurance Company Invests $82,000 in Inovio Pharmaceuticals, Inc. (NASDAQ:INO)

The Manufacturers Life Insurance Company acquired a new position in shares of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 10,169 shares of the biopharmaceutical company’s stock, valued at approximately $82,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new position in Inovio Pharmaceuticals during the first quarter worth $1,482,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Inovio Pharmaceuticals during the second quarter valued at $184,000. American Century Companies Inc. boosted its stake in shares of Inovio Pharmaceuticals by 62.2% during the second quarter. American Century Companies Inc. now owns 31,565 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 12,100 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Inovio Pharmaceuticals during the 2nd quarter worth about $661,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Inovio Pharmaceuticals in the 2nd quarter valued at about $88,000. Hedge funds and other institutional investors own 26.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Inovio Pharmaceuticals from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Oppenheimer reduced their price objective on shares of Inovio Pharmaceuticals from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $15.00 target price on shares of Inovio Pharmaceuticals in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.80.

Inovio Pharmaceuticals Stock Performance

Shares of INO stock opened at $5.61 on Monday. Inovio Pharmaceuticals, Inc. has a one year low of $3.89 and a one year high of $14.75. The company has a 50 day moving average price of $6.53 and a 200 day moving average price of $8.92. The firm has a market capitalization of $145.36 million, a price-to-earnings ratio of -1.51 and a beta of 0.82.

Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.09). The firm had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million. During the same quarter last year, the business posted ($1.56) EPS. As a group, equities analysts forecast that Inovio Pharmaceuticals, Inc. will post -4.64 EPS for the current fiscal year.

Inovio Pharmaceuticals Profile

Inovio Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids.