ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Update

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 493,900 shares, a growth of 37.5% from the January 31st total of 359,300 shares. Based on an average trading volume of 6,560,000 shares, the short-interest ratio is currently 0.1 days. Approximately 2.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC boosted its position in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,558,892 shares of the company’s stock after acquiring an additional 263,451 shares during the quarter. Ingalls & Snyder LLC owned 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Stock Performance

NASDAQ IPA opened at $0.33 on Tuesday. The company’s 50 day simple moving average is $0.47 and its two-hundred day simple moving average is $0.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.01 and a quick ratio of 0.85. ImmunoPrecise Antibodies has a 1 year low of $0.30 and a 1 year high of $2.43. The stock has a market capitalization of $10.23 million, a PE ratio of -0.42 and a beta of 0.04.

ImmunoPrecise Antibodies (NASDAQ:IPA) last issued its quarterly earnings data on Tuesday, December 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). ImmunoPrecise Antibodies had a negative return on equity of 73.74% and a negative net margin of 114.50%. Analysts predict that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright cut their target price on ImmunoPrecise Antibodies from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th.

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.