Bank of America Corp DE increased its position in shares of Inovio Pharmaceuticals Inc (NASDAQ:INO) by 36.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,660 shares of the biopharmaceutical company’s stock after buying an additional 30,740 shares during the quarter. Bank of America Corp DE owned about 0.13% of Inovio Pharmaceuticals worth $449,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Levin Capital Strategies L.P. raised its stake in Inovio Pharmaceuticals by 80.5% during the 2nd quarter. Levin Capital Strategies L.P. now owns 37,000 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 16,500 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Inovio Pharmaceuticals by 8.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 445,846 shares of the biopharmaceutical company’s stock worth $1,748,000 after buying an additional 33,567 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Inovio Pharmaceuticals by 50.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 101,225 shares of the biopharmaceutical company’s stock worth $397,000 after buying an additional 33,825 shares during the period. Emerald Advisers Inc. PA acquired a new position in Inovio Pharmaceuticals during the 2nd quarter worth approximately $228,000. Finally, Wasatch Advisors Inc. raised its stake in Inovio Pharmaceuticals by 6.8% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,738,190 shares of the biopharmaceutical company’s stock worth $10,734,000 after buying an additional 174,911 shares during the period. 33.39% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the company. BidaskClub lowered Inovio Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. ValuEngine raised 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 16th. Finally, Stifel Nicolaus assumed 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $10.75.
Inovio Pharmaceuticals (NASDAQ:INO) last issued its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The firm had revenue of $2.00 million during the quarter, compared to analyst estimates of $2.20 million. Inovio Pharmaceuticals had a negative return on equity of 72.66% and a negative net margin of 232.58%. During the same period in the previous year, the company posted ($0.39) EPS. On average, sell-side analysts predict that Inovio Pharmaceuticals Inc will post -1 earnings per share for the current fiscal year.
In other news, CEO Jong Joseph Kim sold 49,060 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $5.37, for a total value of $263,452.20. Following the completion of the transaction, the chief executive officer now directly owns 2,357,554 shares of the company’s stock, valued at $12,660,064.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.40% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was originally reported by WKRB News and is the sole property of of WKRB News. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.wkrb13.com/2018/11/24/bank-of-america-corp-de-boosts-position-in-inovio-pharmaceuticals-inc-ino.html.
About Inovio Pharmaceuticals
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.
Further Reading: Investing strategies using the yield curve
Receive News & Ratings for Inovio Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovio Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.