ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Sees Significant Growth in Short Interest

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the target of a large growth in short interest during 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 shares of the stock are short sold. Based on an average daily volume of 5,840,000 shares, the short-interest ratio is currently 0.1 days.

ImmunoPrecise Antibodies Price Performance

Shares of NASDAQ:IPA traded down $0.01 on Friday, reaching $0.43. The company’s stock had a trading volume of 710,452 shares, compared to its average volume of 12,282,997. The company has a 50-day simple moving average of $0.47 and a 200 day simple moving average of $0.56. ImmunoPrecise Antibodies has a 52-week low of $0.32 and a 52-week high of $2.43. 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 P/E ratio of -0.55 and a beta of 0.04.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.07) 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%. As a group, equities research analysts anticipate that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased 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.

Institutional Trading of ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC raised its holdings in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during 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 acquiring an additional 263,451 shares during the quarter. Ingalls & Snyder LLC owned approximately 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent filing with the Securities & Exchange Commission. 6.70% of the stock is owned by hedge funds and other institutional investors.

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.