ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Sees Large Decrease in Short Interest

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 100,700 shares, a decline of 14.4% from the July 15th total of 117,700 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average trading volume of 73,800 shares, the short-interest ratio is presently 1.4 days.

Institutional Trading of ImmunoPrecise Antibodies

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC raised its position in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 63,910 shares of the company’s stock after acquiring an additional 26,310 shares during the period. Renaissance Technologies LLC owned approximately 0.24% of ImmunoPrecise Antibodies worth $65,000 at the end of the most recent reporting period. Institutional investors own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Stock Down 1.0 %

NASDAQ:IPA traded down $0.01 during mid-day trading on Monday, hitting $1.01. The stock had a trading volume of 158,391 shares, compared to its average volume of 286,974. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.36. ImmunoPrecise Antibodies has a twelve month low of $0.58 and a twelve month high of $2.60. The company has a market capitalization of $26.58 million, a PE ratio of -2.49 and a beta of 0.09. The stock has a 50-day simple moving average of $0.92 and a two-hundred day simple moving average of $1.29.

ImmunoPrecise Antibodies (NASDAQ:IPA) last issued its earnings results on Monday, July 29th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.42). ImmunoPrecise Antibodies had a negative return on equity of 57.05% and a negative net margin of 110.66%. The firm had revenue of $4.76 million for the quarter, compared to analyst estimates of $4.92 million. On average, equities research analysts anticipate that ImmunoPrecise Antibodies will post -0.25 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IPA shares. Benchmark lowered their price target on ImmunoPrecise Antibodies from $5.00 to $3.00 and set a “speculative buy” rating for the company in a report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of ImmunoPrecise Antibodies in a research report on Tuesday, July 30th.

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.