Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) Short Interest Update

Key Points

• Short interest fell sharply: Innate Pharma’s short interest dropped 63.9% to 81,961 shares as of August 31, representing 0.1% of shares outstanding and a short-interest ratio of 1.8 days.
• Analysts are broadly positive: Five analysts rate the stock Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $6.67.
• Shares remain below analyst targets: IPHA recently traded at $1.87, compared with a 52-week range of $1.17 to $2.71; its moving averages stood at $1.97 over 50 days and $1.74 over 200 days.

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA - Get Free Report) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 81,961 shares, a decrease of 63.9% from the August 15th total of 227,041 shares. Based on an average trading volume of 45,216 shares, the short-interest ratio is currently 1.8 days. Currently, 0.1% of the company's stock are short sold.

Institutional Investors Weigh In On Innate Pharma

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in shares of Innate Pharma during the 4th quarter worth about $162,000. OLD Mission Capital LLC acquired a new position in Innate Pharma in the 4th quarter valued at about $50,000. Finally, Millennium Management LLC acquired a new position in Innate Pharma in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 0.16% of the company's stock.

Innate Pharma Price Performance

NASDAQ IPHA traded down $0.01 during trading on Friday, reaching $1.87. 8,325 shares of the company's stock were exchanged, compared to its average volume of 37,134. Innate Pharma has a fifty-two week low of $1.17 and a fifty-two week high of $2.71. The business has a 50 day moving average price of $1.97 and a 200-day moving average price of $1.74.

Analyst Ratings Changes

A number of research firms have weighed in on IPHA. Weiss Ratings raised Innate Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, June 26th. Leerink Partners raised Innate Pharma from a "market perform" rating to an "outperform" rating and set a $4.00 price objective for the company in a report on Tuesday, August 11th. Citigroup raised shares of Innate Pharma from a "buy" rating to an "outperform" rating in a research note on Tuesday, August 11th. BTIG Research boosted their target price on shares of Innate Pharma from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Finally, UBS Group reaffirmed a "buy" rating on shares of Innate Pharma in a research report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.67.

Innate Pharma Company Profile

Innate Pharma SA is a clinical-stage biotechnology company specializing in the discovery and development of antibody-based therapies that harness the body's innate immune system to combat cancer. Founded in 1999 and headquartered in Marseille, France, the company pioneers novel monoclonal antibodies designed to activate natural killer cells and macrophages, offering a complementary approach to existing immuno-oncology treatments.

The company's lead program, monalizumab, targets the NKG2A immune checkpoint receptor and is being developed in collaboration with AstraZeneca.

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