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

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,590,000 shares, a drop of 47.5% from the March 15th total of 3,030,000 shares. Based on an average daily volume of 7,230,000 shares, the short-interest ratio is presently 0.2 days. Approximately 7.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IPA shares. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of ImmunoPrecise Antibodies in a research report on Friday, April 11th. Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 price target on shares of ImmunoPrecise Antibodies in a report on Tuesday, April 1st.

ImmunoPrecise Antibodies Stock Performance

Shares of IPA traded up $0.02 during midday trading on Wednesday, hitting $0.43. 56,092 shares of the stock traded hands, compared to its average volume of 2,077,607. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.01. ImmunoPrecise Antibodies has a 1-year low of $0.27 and a 1-year high of $1.39. The business’s 50 day moving average price is $0.40 and its two-hundred day moving average price is $0.45. The firm has a market capitalization of $13.24 million, a PE ratio of -0.55 and a beta of -0.02.

ImmunoPrecise Antibodies (NASDAQ:IPA) last announced its quarterly earnings results on Friday, March 28th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $4.23 million for the quarter, compared to analyst estimates of $6.59 million. ImmunoPrecise Antibodies had a negative net margin of 114.50% and a negative return on equity of 73.74%. Equities research analysts predict that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.

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.