Inovio Pharmaceuticals Inc (NASDAQ: INO) is one of the biggest gainers in the biotech sector today as the stock moved up after announcing a key update related to INO-4800.
The company said that results in the new study showed INO-4800 vaccine-induced neutralizing antibodies and T cell responses against the UK, South African, and Brazilian variant strains. As per the release ” Paper entitled, “INO-4800 DNA Vaccine Induces Neutralizing Antibodies and T cell Activity Against Global SARS-CoV-2 Variants,” submitted for peer review and available via preprint in bioRxiv
Well, that’s good progress by the company’s ongoing trial and hence investors are reacting positively. At the time of writing, INO stock is trading higher by 15.20% at $10.18 after hitting a high of $10.34. The stock has lost over 70% from its 52-week peak price of $33.79. Technically, the stock is trading well below its 20-Day and 200-day Moving average prices. It would be interesting to see if the stock can rise further and gain momentum in the coming weeks.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.