ImmunoPrecise Antibodies (NASDAQ:IPA) Stock Price Down 1.5% – Time to Sell?

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA)’s share price dropped 1.5% during mid-day trading on Friday . The stock traded as low as $0.56 and last traded at $0.58. Approximately 265,735 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 275,428 shares. The stock had previously closed at $0.59.

Analyst Ratings Changes

IPA has been the subject of several analyst reports. Benchmark reduced their price target on shares of ImmunoPrecise Antibodies from $5.00 to $3.00 and set a “speculative buy” rating for the company in a research report on Wednesday, August 14th. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of ImmunoPrecise Antibodies in a research note on Tuesday, September 17th.

ImmunoPrecise Antibodies Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.99 and a quick ratio of 0.82. The business’s 50 day moving average price is $0.70 and its 200 day moving average price is $0.98. The stock has a market capitalization of $15.87 million, a P/E ratio of -0.75 and a beta of 0.09.

ImmunoPrecise Antibodies (NASDAQ:IPA) last posted its earnings results on Monday, September 16th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $3.85 million during the quarter, compared to the consensus estimate of $4.96 million. ImmunoPrecise Antibodies had a negative return on equity of 65.37% and a negative net margin of 114.67%. Sell-side analysts forecast that ImmunoPrecise Antibodies Ltd. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC lifted its holdings in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,910 shares of the company’s stock after purchasing an additional 26,310 shares during the period. Renaissance Technologies LLC owned about 0.24% of ImmunoPrecise Antibodies worth $65,000 at the end of the most recent reporting period. 6.70% of the stock is owned by institutional investors and hedge funds.

ImmunoPrecise Antibodies Company Profile

ImmunoPrecise Antibodies Ltd., together with its subsidiaries, operates as a biotherapeutic research and technology company in Canada and internationally. It provides NonaVac DNA for complex protein classes, including GPCRs and ion channels; and Rapid Prime, a positive monoclonal antibodies for generating anti-idiotypic antibodies, and producing monoclonal antibodies against conformational epitopes.