SCHEDULE: FMR LLC Boosts Stake in INOVIO to 14.8%

FMR LLC and its affiliates, including Abigail P. Johnson, reported a beneficial ownership of 14.8% of INOVIO PHARMACEUTICALS INC's common stock as of November 28, 2025.

Summary

• FMR LLC and Abigail P. Johnson reported beneficial ownership of 9,846,664 shares of INOVIO PHARMACEUTICALS INC common stock.
• This ownership represents 14.8% of the total outstanding common stock of INOVIO PHARMACEUTICALS INC.
• The filing was made under Rule 13d-1(b), indicating the shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• Fidelity Small Cap Growth Fund, an affiliate of FMR LLC, holds 5,980,194 shares, which accounts for 9.0% of the total outstanding common stock.
• FMR LLC holds sole voting and dispositive power over the 9,846,664 shares.
• Abigail P. Johnson, as Director, Chairman, and CEO of FMR LLC, is deemed to have shared dispositive power over the same amount of shares.

Sentiment

Score: 7

Explanation: The acquisition of a significant stake (14.8%) by a major institutional investor like FMR LLC is generally viewed positively, indicating confidence in the company's prospects. The filing under Rule 13d-1(b) suggests a passive, long-term investment intent.

Positives

• A significant institutional investor, FMR LLC, has taken a substantial 14.8% stake in INOVIO PHARMACEUTICALS INC, signaling confidence in the company's long-term prospects.
• The filing under Rule 13d-1(b) indicates that the investment is for ordinary course business purposes, suggesting a passive, long-term investment rather than an activist stance.
• Fidelity Small Cap Growth Fund's 9.0% stake within the total FMR LLC holding further emphasizes a focused investment by a specific fund.

Future Outlook

NA

Industry Context

A significant stake by a major asset manager like FMR LLC in a biotechnology company like INOVIO PHARMACEUTICALS INC can be viewed as a vote of confidence in the company's pipeline, market position, or future growth potential. Such institutional investments often attract further investor attention and can stabilize or boost share price, especially in the volatile biotech sector.

Stakeholder Impact

• Shareholders: The increased institutional ownership by a reputable firm like FMR LLC may instill greater confidence among existing and potential shareholders, potentially leading to increased demand and price stability for INOVIO's stock.
• Management: The presence of a significant institutional investor could lead to increased scrutiny and expectations regarding corporate performance and strategic decisions, though the filing indicates a passive investment.

Key Dates

Recommendation

While the significant institutional investment by FMR LLC is a positive signal, a Schedule 13G filing primarily discloses ownership and does not provide new operational or financial performance data. The investment indicates confidence from a major player, which could support the stock. However, without additional fundamental analysis of INOVIO's business, pipeline, and financials, a 'hold' recommendation is appropriate, suggesting investors maintain their current positions while awaiting further operational updates.

Keywords

INOVIO PHARMACEUTICALS, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Schedule 13G, Institutional Investment, Common Stock, Biotechnology, Pharmaceuticals, Fidelity Small Cap Growth Fund