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

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,190,000 shares, an increase of 343.4% from the February 13th total of 493,900 shares. Based on an average daily volume of 6,650,000 shares, the short-interest ratio is presently 0.3 days. Approximately 10.9% of the company’s shares are sold short.

ImmunoPrecise Antibodies Stock Down 2.5 %

Shares of IPA stock traded down $0.01 during trading hours on Friday, hitting $0.40. 1,126,100 shares of the company’s stock traded hands, compared to its average volume of 2,050,152. The stock’s fifty day simple moving average is $0.46 and its two-hundred day simple moving average is $0.50. The stock has a market cap of $12.27 million, a price-to-earnings ratio of -0.51 and a beta of 0.09. ImmunoPrecise Antibodies has a 12-month low of $0.27 and a 12-month high of $1.71. The company has a quick ratio of 0.85, a current ratio of 1.01 and a debt-to-equity ratio of 0.36.

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

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of ImmunoPrecise Antibodies in a research report on Friday.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC increased its holdings in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,558,892 shares of the company’s stock after purchasing 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 and Exchange Commission (SEC). Hedge funds and other institutional investors own 6.70% of the company’s stock.

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.