Inovio Shares Fall After Analyst Cut, Traders Wait for FDA Decision
Inovio Pharmaceuticals shares moved lower Monday after H.C. Wainwright trimmed its price target for the DNA-medicine firm. The call brought attention back to dilution and an upcoming U.S. regulatory ruling expected this year. INO was recently at $1.275, off 2.7%. More than 1 million shares traded hands. H.C. Wainwright cut its price target on the stock to $2.50 from $3.00 and kept a Neutral rating, market reports said. StreetInsider pointed to Raghuram Selvaraju as the analyst behind the move. Benzinga’s analyst-ratings page showed the firm made the target cut on June 1 and held its Neutral stance.