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Hot Stock: Inovio Biomedical, Shares Gain 6.2% (INO)

Published on Fri, 06/14/2013 - 10:26
By Mallory Stone

Inovio Biomedical (AMEX:INO) is one of today's best performing penny stocks, up 6.2% to $0.66 on 1.3x average daily volume. Thus far today, Inovio Biomedical has traded 1.7 million shares, vs. average volume of 1.2 million shares per day. The stock has outperformed the Dow (6.2% to the Dow's -0.5%) and outperformed the S&P 500 (6.2% to the S&P's -0.4%) during today's trading.

Inovio Biomedical Corporation is focused on developing multiple DNA-based immunotherapies. The Company develops applications of electroporation using brief, controlled electrical pulses to increase cellular uptake of a useful biopharmaceutical.

Potential upside of 108.8% exists for Inovio Biomedical, based on a current level of $0.66 and analysts' average consensus price target of $1.38. The stock should discover initial support at its 50-day moving average (MA) of $0.62 and subsequent support at its 200-day MA of $0.61.

In the past 52 weeks, shares of Inovio Biomedical have traded between a low of $0.38 and a high of $0.83 and are now at $0.66, which is 73% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.2%.

By Mallory Stone