ImmunoPrecise Antibodies (NASDAQ:IPA) Shares Down 0.4% - What's Next?

Key Points

• ImmunoPrecise Antibodies shares fell 0.4% to $2.75, with a trading volume that declined by 35% from the average session.
• Analysts upgraded the stock from a "sell" to a "hold" rating, with a current average target price of $4.00 and two analysts rating it as a Buy.
• The company reported negative earnings of ($0.04) per share, missing consensus estimates, alongside a revenue of $5.06 million compared to an expected $7.89 million.

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA - Get Free Report) was down 0.4% during mid-day trading on Tuesday . The stock traded as low as $2.59 and last traded at $2.75. Approximately 1,149,087 shares were traded during trading, a decline of 35% from the average daily volume of 1,764,896 shares. The stock had previously closed at $2.76.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded ImmunoPrecise Antibodies from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $4.00.

ImmunoPrecise Antibodies Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.08. The stock has a market capitalization of $109.38 million, a PE ratio of -3.49 and a beta of 0.49. The business's 50-day moving average price is $1.87 and its 200 day moving average price is $0.96.

ImmunoPrecise Antibodies (NASDAQ:IPA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The business had revenue of $5.06 million during the quarter, compared to analysts' expectations of $7.89 million. ImmunoPrecise Antibodies had a negative net margin of 122.10% and a negative return on equity of 40.62%. Research analysts forecast that ImmunoPrecise Antibodies Ltd. will post -0.27 earnings per share for the current year.

Institutional Trading of ImmunoPrecise Antibodies

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its position in shares of ImmunoPrecise Antibodies by 394.4% during the second quarter. XTX Topco Ltd now owns 91,382 shares of the company's stock worth $97,000 after acquiring an additional 72,897 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in ImmunoPrecise Antibodies by 0.8% during the 2nd quarter. Ingalls & Snyder LLC now owns 2,779,363 shares of the company's stock valued at $2,946,000 after acquiring an additional 21,236 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of ImmunoPrecise Antibodies in the second quarter worth about $29,000. 6.70% of the stock is currently owned by institutional investors.

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.