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Why Inovio Stock Plunged Today

TheMotleyFool

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Why Inovio Stock Plunged TodayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Shares of Inovio Pharmaceuticals (NASDAQ: INO) declined on Tuesday after investment bank Roth Capital Partners released a bearish report on the biotechnology company. As of 12:45 p.m. EST, Inovio's stock was down 8.5%.

Roth Capital analyst Jonathan Aschoff slashed his rating on Inovio from neutral to sell. He sees its share price falling more than 30% to $8 amid intensifying competition from the likes of Pfizer (NYSE: PFE) and Moderna (NASDAQ: MRNA).

Inovio shareholders could suffer steep losses, according to a Roth Capital analyst. Image source: Getty Images.

Source Fool.com

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