Inovio Pharmaceuticals Short Interest Down 24.7% in June but rate 18.96
Shares of Inovio Pharmaceuticals (NYSE:INO) were the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 9,833,973 shares, a drop of 24.7% from the June 13th total of 13,067,325 shares, Analyst Ratings.Net reports. Based on an average daily volume of 1,964,510 shares, the days-to-cover ratio is currently 5.0 days. Approximately 17.4% of the company’s shares are sold short.
INO has been the subject of a number of recent research reports. Analysts at Aegis initiated coverage on shares of Inovio Pharmaceuticals in a research note on Monday, June 23rd. They set a “positive” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $18.96.