- NASDAQ:INO falls a further 4.55% on Wednesday amidst broader market selloff.
- Has Inovio fallen too far too fast? Median price target suggests it has.
- Investors continue to jump off as Inovio’s COVID-19 vaccine trials are stuck in neutral.
NASDAQ:INO has extended its slide on Wednesday as investors remain anxious about the FDA investigation into its vaccine candidate INO-4800 and the delivery device, CELLECTRA 2000. Inovio fell once again on Wednesday, shedding 4.55% to close the trading session at $10.50. As other biotech firms continue to inch closer to a successful vaccine candidate for the novel coronavirus, Inovio remains mired in an FDA inquiry with questions about its clinical trials.
Investors have every right to take their money and invest it elsewhere as there are plenty of horses in the COVID-19 vaccine race that are worth backing. While Inovio is stuck in the mud with its clinical trials on hold, other companies like Moderna (NASDAQ:MRNA), Novavax (NASDAQ:NVAX), and Pfizer (NYSE:PFE) are all nearing or currently in Phase 3 of their respective studies. While realistically, it was probably a longshot for a company as small as Inovio to bounce these pharmaceutical titans from Operation Warp Speed, but investing in micro-cap biotech stocks is always an enticing endeavor for investors looking for large gains in a short amount of time.
Inovio Pharmaceuticals stock chart
When will the bleeding stop for Inovio? It is difficult to say. Surely, when the FDA gives the go-ahead to resume clinical trials for INO-4800, the stock will see a surge back up from bargain investors looking to buy the dip. It remains to be seen if that is truly warranted for Inovio though, as other companies with stable track records ready their vaccine candidates for large scale distribution, Inovio looks like it will find itself on the outside looking in.
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