ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Update

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 164,600 shares, a decline of 18.1% from the May 15th total of 201,000 shares. Based on an average daily trading volume, of 131,600 shares, the short-interest ratio is currently 1.3 days. Approximately 0.8% of the company’s stock are short sold.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC raised its position in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 24.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,281,305 shares of the company’s stock after purchasing an additional 253,052 shares during the quarter. Ingalls & Snyder LLC owned 4.87% of ImmunoPrecise Antibodies worth $2,191,000 at the end of the most recent quarter. 6.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IPA. Benchmark reissued a “speculative buy” rating and set a $5.00 price target on shares of ImmunoPrecise Antibodies in a research report on Friday, March 15th. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of ImmunoPrecise Antibodies in a research note on Friday, March 15th.

ImmunoPrecise Antibodies Price Performance

ImmunoPrecise Antibodies stock traded down $0.01 during midday trading on Monday, hitting $1.04. The company’s stock had a trading volume of 113,345 shares, compared to its average volume of 361,312. ImmunoPrecise Antibodies has a 12 month low of $0.94 and a 12 month high of $3.21. The company has a quick ratio of 1.38, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $27.37 million, a PE ratio of -2.54 and a beta of 0.11. The stock’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.47.

ImmunoPrecise Antibodies (NASDAQ:IPA) last issued its earnings results on Thursday, March 14th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The firm had revenue of $4.60 million during the quarter, compared to analysts’ expectations of $4.43 million. ImmunoPrecise Antibodies had a negative net margin of 60.23% and a negative return on equity of 26.54%. Analysts anticipate that ImmunoPrecise Antibodies will post -0.36 earnings per share for the current fiscal year.

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.