ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Up 895.3% in January

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 359,300 shares, an increase of 895.3% from the January 15th total of 36,100 shares. Based on an average daily volume of 5,840,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC raised its holdings in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 quarter. Hedge funds and other institutional investors own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Price Performance

Shares of IPA stock traded down $0.02 during mid-day trading on Wednesday, hitting $0.44. 461,246 shares of the stock were exchanged, compared to its average volume of 13,106,388. The firm has a fifty day moving average of $0.47 and a 200 day moving average of $0.56. 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 has a 52-week low of $0.32 and a 52-week high of $2.43. The company has a market cap of $13.73 million, a PE ratio of -0.56 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) earnings per share 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%. Research analysts anticipate that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright lowered their target price on shares of ImmunoPrecise Antibodies from $9.00 to $7.00 and set a “buy” rating on the stock 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.