Biotech Inovio Pharmaceutical has been moving higher on coronavirus news, but can it last?
In an increasingly sickly looking market, Inovio Pharmaceuticals (NASDAQ:INO) has been resurrected from a dead-like experience with investors. The question is, can it last? Let’s take a glance at what’s pumping life into shares and whether INO stock is worth buying in today’s market.
INO Stock: Is Inovio Pharmaceuticals the Cure for Your Portfolio?
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It’s not the cure for cancer. But on Wall Street and where the coronavirus from China is spreading a bearish pandemic among risk-assets, shares of Inovio are acting just like the cure-all within the eyes of the many investors. The stock rocketed higher by nearly 230% on the week on staggering record-breaking volume of roughly 587 million shares.
But there’s more to the rally in Inovio also .
The obvious bullish interest has allowed Inovio to shut in on a 13-year high. Shares have also moved into the double digits above $14 a share as of Friday’s close and firmly into small-cap territory with a market valuation of $1.43 billion. Furthermore and in safer venues than those round the workplace cooler, on the Yahoo Finance message boards, INO stock has enjoyed a healthy surge in conversations totaling quite 21,000.
Yep, investors are suddenly and really definitely curious about Inovio Pharmaceuticals.
Not that the stock is alone in its rapid validation among today’s investors. There’s Enzo Biochem (NYSE:ENZ), Nanoviricides (NYSEAMERICAN:NNVC) and Vir Biotechnology (NASDAQ:VIR), a more recognizable larger-cap stock like Gilead Sciences (NASDAQ:GILD). There’s also a number of other companies which have caught Wall Street’s attention in recent weeks as a well-contained COVID-19 ill health has become a worldwide health and financial crisis.
The driver (of course) behind each of those companies’ strong rallies has been an race of sorts to assist remedy or solve the coronavirus in a method or another. But immediately , Inovio does stand aside from many of the opposite biotechs tackling this problem.
While INO stock remains mired in loss , Inovio is that the only company with an existing phase 2 vaccine used for the MERS or Middle East Respiratory Syndrome coronavirus. It’s an enormous advantage. Also, this past week, Inovio announced it’s accelerating the timeline for development of its DNA-based vaccine to the present combat this new strain of coronavirus. Management expects human trials for INO-4800 to commence in April. But is all of this priced in already?
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