Short Interest in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Increases By 65.9%

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPAGet Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 182,200 shares, an increase of 65.9% from the September 15th total of 109,800 shares. Based on an average daily trading volume, of 172,200 shares, the short-interest ratio is currently 1.1 days. Currently, 0.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC grew its holdings in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPAFree Report) by 70.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,910 shares of the company’s stock after acquiring an additional 26,310 shares during the period. Renaissance Technologies LLC owned about 0.24% of ImmunoPrecise Antibodies worth $65,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Trading Down 0.9 %

IPA stock traded down $0.01 during mid-day trading on Monday, hitting $0.58. 28,025 shares of the company were exchanged, compared to its average volume of 274,172. ImmunoPrecise Antibodies has a 12-month low of $0.50 and a 12-month high of $2.60. The firm has a market capitalization of $15.33 million, a P/E ratio of -1.44 and a beta of 0.09. The business has a fifty day simple moving average of $0.70 and a 200-day simple moving average of $0.97. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.36.

ImmunoPrecise Antibodies (NASDAQ:IPAGet Free Report) last posted its earnings results on Monday, September 16th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $3.85 million during the quarter, compared to analyst estimates of $4.96 million. ImmunoPrecise Antibodies had a negative net margin of 114.67% and a negative return on equity of 65.37%. On average, equities research analysts predict that ImmunoPrecise Antibodies will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of ImmunoPrecise Antibodies in a research note on Tuesday, September 17th. Benchmark decreased their target price on shares of ImmunoPrecise Antibodies from $5.00 to $3.00 and set a “speculative buy” rating on the stock in a report on Wednesday, August 14th.

Get Our Latest Stock Analysis on ImmunoPrecise Antibodies

ImmunoPrecise Antibodies Company Profile

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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.

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