Traders Purchase High Volume of Call Options on Inovio Pharmaceuticals (NASDAQ:INO)

Inovio Pharmaceuticals, Inc. (NASDAQ:INO) saw unusually large options trading on Wednesday. Stock investors purchased 6,354 call options on the company. This represents an increase of approximately 184% compared to the average daily volume of 2,237 call options.

Inovio Pharmaceuticals Stock Performance

Shares of INO traded down $0.17 during trading hours on Wednesday, hitting $0.84. The stock had a trading volume of 5,346,099 shares, compared to its average volume of 2,667,656. The firm has a 50-day moving average price of $1.19 and a 200 day moving average price of $1.14. Inovio Pharmaceuticals has a fifty-two week low of $0.56 and a fifty-two week high of $2.72. The firm has a market capitalization of $87.37 million, a price-to-earnings ratio of -0.93 and a beta of 1.61.

Inovio Pharmaceuticals (NASDAQ:INO) last released its quarterly earnings results on Wednesday, August 12th. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.15. As a group, analysts predict that Inovio Pharmaceuticals will post -0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INO. Wall Street Zen raised Inovio Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research lowered Inovio Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Jefferies Financial Group upgraded Inovio Pharmaceuticals from a “hold” rating to a “positive” rating and raised their price objective for the stock from $1.80 to $3.00 in a research note on Thursday, August 13th. Piper Sandler restated an “overweight” rating and issued a $4.00 price objective on shares of Inovio Pharmaceuticals in a research note on Monday, August 3rd. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Inovio Pharmaceuticals in a report on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.17.

Institutional Investors Weigh In On Inovio Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Inovio Pharmaceuticals during the 2nd quarter worth about $33,000. Engineers Gate Manager LP acquired a new stake in shares of Inovio Pharmaceuticals during the 2nd quarter valued at about $37,000. Squarepoint Ops LLC increased its stake in shares of Inovio Pharmaceuticals by 46.5% in the 2nd quarter. Squarepoint Ops LLC now owns 36,391 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 11,554 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Inovio Pharmaceuticals by 1,929.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 48,948 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 46,536 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of Inovio Pharmaceuticals by 312.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 70,636 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 53,510 shares in the last quarter. 26.79% of the stock is owned by hedge funds and other institutional investors.

Inovio Pharmaceuticals Company Profile

Inovio Pharmaceuticals, Inc (NASDAQ: INO) is a biotechnology company focused on developing DNA medicines, including immunotherapies and vaccines designed to stimulate targeted immune responses. Its technology platform uses synthetic DNA constructs delivered into cells, with the company’s CELLECTRA device platform developed to enhance cellular uptake.

Inovio’s pipeline has included candidates for infectious diseases, cancers and other conditions involving the immune system. Its lead programs have included INO-3107, an investigational DNA immunotherapy being developed for recurrent respiratory papillomatosis, and VGX-3100, an earlier candidate studied for human papillomavirus-related disease.