Short Interest in Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) Declines By 25.8%

Key Points

• Innate Pharma experienced a significant 25.8% decrease in short interest in August, dropping from 70,200 shares to 52,100 shares.
• Analysts show optimism for the company, with a consensus rating of "Buy" and a target price of $11.00.
• The stock price is currently at $2.04, which is notably above its 52-week low of $1.29 but below its high of $3.51.

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA - Get Free Report) saw a large drop in short interest in August. As of August 15th, there was short interest totaling 52,100 shares, a drop of 25.8% from the July 31st total of 70,200 shares. Based on an average daily volume of 10,200 shares, the short-interest ratio is currently 5.1 days. Based on an average daily volume of 10,200 shares, the short-interest ratio is currently 5.1 days.

Analyst Upgrades and Downgrades

Separately, BTIG Research assumed coverage on Innate Pharma in a research report on Monday, July 28th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, Innate Pharma currently has an average rating of "Buy" and a consensus price target of $11.00.

Innate Pharma Stock Down 2.0%

Shares of NASDAQ IPHA traded down $0.04 during trading hours on Friday, hitting $2.00. 18,294 shares of the company's stock were exchanged, compared to its average volume of 9,200. Innate Pharma has a 1-year low of $1.29 and a 1-year high of $3.51. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.60 and a quick ratio of 2.60. The company's 50-day moving average price is $2.04 and its 200-day moving average price is $2.02.

Innate Pharma Company Profile

Innate Pharma SA, a biotechnology company, develops immunotherapies for cancer patients in France and internationally. The company's products include Lacutamab (IPH4102), an anti-KIR3DL2 antibody, which is in Phase II clinical trials for the treatment of cutaneous T-cell and peripheral T-cell lymphoma, as well as in Phase II clinical trials to treat refractory sézary syndrome; Monalizumab, an immune checkpoint inhibitor that is in Phase III clinical trial to treat advanced solid tumors comprising colorectal and lung cancer, as well as head and neck cancer; IPH5201, a blocking antibody that is in Phase II clinical trials targeting the CD39 immunosuppressive pathway; IPH5301, an anti-CD73 antibody targeting the immunosuppressive adenosine pathway to promote antitumor immunity; IPH6401, an BCMA-targeting NK cell engager; and IPH6101, a NKp46-based NK cell engager that targets CD123 proprietary multi-specific antibody format; and IPH62, an B7-H3-targeting NK cell engager.