Short Interest in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Rises By 37.5%

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the target of a significant 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. Based on an average daily trading volume, of 6,560,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 2.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC raised its position in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,558,892 shares of the company’s stock after buying an additional 263,451 shares during the period. Ingalls & Snyder LLC owned about 5.41% of ImmunoPrecise Antibodies worth $996,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 6.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their price target 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.

ImmunoPrecise Antibodies Stock Performance

NASDAQ IPA opened at $0.33 on Tuesday. The company has a 50-day simple moving average of $0.47 and a two-hundred day simple moving average of $0.52. ImmunoPrecise Antibodies has a 12-month low of $0.30 and a 12-month high of $2.43. The firm has a market cap of $10.23 million, a price-to-earnings ratio of -0.42 and a beta of 0.04. 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 (NASDAQ:IPA) last issued its 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 net margin of 114.50% and a negative return on equity of 73.74%. On average, equities analysts forecast that ImmunoPrecise Antibodies will post -0.27 EPS for the current 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.