ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Up 37.5% in February

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 493,900 shares, an increase of 37.5% from the January 31st total of 359,300 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average trading volume of 6,560,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC boosted its stake in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,558,892 shares of the company’s stock after buying an additional 263,451 shares during the period. Ingalls & Snyder LLC owned 5.41% of ImmunoPrecise Antibodies worth $996,000 at the end of the most recent quarter. 6.70% of the stock is currently owned by institutional investors and hedge funds.

ImmunoPrecise Antibodies Stock Performance

IPA traded up $0.04 during trading on Wednesday, reaching $0.39. 940,339 shares of the company were exchanged, compared to its average volume of 2,022,009. ImmunoPrecise Antibodies has a 52 week low of $0.27 and a 52 week high of $2.43. The company has a current ratio of 1.01, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $0.46 and a 200 day moving average of $0.52. The stock has a market cap of $12.24 million, a P/E ratio of -0.51 and a beta of 0.04.

ImmunoPrecise Antibodies (NASDAQ:IPA) last issued its quarterly earnings data on Tuesday, December 10th. The company reported ($0.07) earnings per share (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%. On average, sell-side analysts forecast that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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 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.