Inovio Pharmaceuticals Inc (INO): Hedge Fund Sentiment Unchanged

Let’s now review hedge fund activity in other stocks similar to Inovio Pharmaceuticals Inc (NASDAQ:INO). We will take a look at Zumiez Inc. (NASDAQ:ZUMZ), State National Companies Inc (NASDAQ:SNC), Infinity Pharmaceuticals Inc. (NASDAQ:INFI), and Myers Industries, Inc. (NYSE:MYE). This group of stocks’ market values are closest to INO’s market value.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $86 million. That figure was $13 million in INO’s case, a rather negative signal. Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is the most popular stock in this table, while Myers Industries, Inc. (NYSE:MYE) is the least popular one with only 7 bullish hedge fund positions, in line with Inovio Pharmaceuticals Inc (NASDAQ:INO). Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.