BlackRock Fund Advisors recently announced the acquisition of new stake in Inovio Pharmaceuticals Inc. (NASDAQ:INO). The institutional investor has increased its shareholding in the Healthcare company by 7.64% to 18.38 million shares with purchase of 1.3 million shares. This fresh investment now brings its stake to 7.37% valued currently at $39.7 million. In addition, The Vanguard Group, Inc. raised its holdings by 2.02 million to 15.03 million shares. And D. E. Shaw & Co. LP has lifted its position by 25.88% or 1.55 million shares – to 7.55 million shares.
With over 5.05 million Inovio Pharmaceuticals Inc. (INO) shares trading Tuesday and a closing price of $1.93 on the day, the dollar volume was approximately $9.74 million. The shares have shown a positive half year performance of 3.21% and its price on 11/29/22 gained nearly 1.58%. Currently, there are 249.35M common shares owned by the public and among those 245.68M shares have been available to trade.
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Insiders at the company have transacted a total of 52 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 821,981 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 273,467 shares.
The top 3 mutual fund holders in Inovio Pharmaceuticals Inc. are SPDR S&P Biotech ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 21.91 million shares of the company’s stock, all valued at over $47.33 million. The company bought an additional 0.12 million shares recently to bring their total holdings to about 8.79% of the shares outstanding. Vanguard Total Stock Market Index bought 0.16 million shares to see its total holdings expand to 8.0 million shares valued at over $17.29 million and representing 3.21% of the shares outstanding. iShares Russell 2000 ETF sold -0.1 million shares to bring its total holdings to over 5.4 million shares at a value of $11.67 million. iShares Russell 2000 ETF now owns shares totaling to 2.17% of the shares outstanding.
Shares of Inovio Pharmaceuticals Inc. (NASDAQ: INO) opened at $1.91, up $0.01 from a prior closing price of $1.90. However, the script later moved the day high at 1.9800, up 1.58%. The company’s stock has a 5-day price change of -8.96% and -15.72% over the past three months. INO shares are trading -61.32% year to date (YTD), with the 12-month market performance down to -73.53% lower. It has a 12-month low price of $1.38 and touched a high of $7.66 over the same period. INO has an average intraday trading volume of 5.77 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.73%, -0.22%, and -18.84% respectively.
Institutional ownership of Inovio Pharmaceuticals Inc. (NASDAQ: INO) shares accounts for 47.80% of the company’s 249.35M shares outstanding. Mutual fund holders own 19.06%, while other institutional holders and individual stakeholders account for 28.24% and 1.88% respectively.
It has a market capitalization of $486.17M and a beta (3y monthly) value of 1.03. The earnings-per-share (ttm) stands at -$1.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.53% over the week and 8.52% over the month.
Analysts forecast that Inovio Pharmaceuticals Inc. (INO) will achieve an EPS of -$0.3 for the current quarter, -$0.27 for the next quarter and -$1.03 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.36 while analysts give the company a high EPS estimate of -$0.22. Comparatively, EPS for the current quarter was -$0.29 a year ago. Earnings per share for the fiscal year are expected to decrease by -35.60%, and 41.40% over the next financial year. EPS should grow at an annualized rate of 45.80% over the next five years, compared to -7.60% over the past 5-year period.
BofA Securities coverage for the Inovio Pharmaceuticals Inc. (INO) stock in a research note released on November 01, 2022 offered a Underperform rating with a price target of $2. BofA Securities on their part issued Neutral rating on January 21, 2022.
