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 January. As of January 31st, there was short interest totalling 359,300 shares, a growth of 895.3% from the January 15th total of 36,100 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 5,840,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC lifted its stake in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,558,892 shares of the company’s stock after purchasing an additional 263,451 shares during the quarter. Ingalls & Snyder LLC owned about 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent SEC filing. Institutional investors own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Stock Down 3.2 %

ImmunoPrecise Antibodies stock traded down $0.01 during midday trading on Friday, hitting $0.43. 710,452 shares of the company’s stock were exchanged, compared to its average volume of 12,282,997. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.01. The company has a market cap of $13.36 million, a PE ratio of -0.55 and a beta of 0.04. The firm has a 50-day moving average of $0.47 and a two-hundred day moving average of $0.56. ImmunoPrecise Antibodies has a 12 month low of $0.32 and a 12 month high of $2.43.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released 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 net margin of 114.50% and a negative return on equity of 73.74%. As a group, 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 reduced their price objective on ImmunoPrecise Antibodies from $9.00 to $7.00 and set a “buy” rating on the stock in a 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.