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

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 493,900 shares, an increase of 37.5% from the January 31st total of 359,300 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily volume of 6,560,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC lifted its position in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing. Hedge funds and other institutional investors own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Price Performance

Shares of NASDAQ IPA opened at $0.39 on Thursday. ImmunoPrecise Antibodies has a fifty-two week low of $0.27 and a fifty-two week high of $2.43. The business has a 50 day moving average price of $0.46 and a two-hundred day moving average price of $0.52. 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 firm has a market cap of $12.24 million, a PE ratio of -0.51 and a beta of 0.09.

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

Analysts Set New Price Targets

Separately, HC Wainwright lowered their price objective 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.

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.