Stock Traders Buy High Volume of ImmunoPrecise Antibodies Call Options (NASDAQ:IPA)

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of unusually large options trading activity on Wednesday. Investors bought 3,524 call options on the company. This represents an increase of approximately 6,193% compared to the typical volume of 56 call options.

ImmunoPrecise Antibodies Stock Up 30.7 %

Shares of NASDAQ IPA opened at $0.64 on Thursday. ImmunoPrecise Antibodies has a 12-month low of $0.32 and a 12-month high of $2.60. The firm’s 50-day simple moving average is $0.44 and its 200 day simple moving average is $0.60. The company has a quick ratio of 0.85, a current ratio of 1.01 and a debt-to-equity ratio of 0.36. The company has a market cap of $20.02 million, a price-to-earnings ratio of -0.83 and a beta of 0.01.

ImmunoPrecise Antibodies (NASDAQ:IPA) last posted its quarterly earnings data on Tuesday, December 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts expect that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC boosted its position in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,910 shares of the company’s stock after purchasing an additional 26,310 shares during the quarter. Renaissance Technologies LLC owned 0.24% of ImmunoPrecise Antibodies worth $65,000 as of its most recent SEC filing. Institutional investors and hedge funds own 6.70% of the company’s stock.

Analysts Set New Price Targets

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 report on Wednesday, December 11th.

About ImmunoPrecise Antibodies

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.