ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA - Get Free Report) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totaling 433,700 shares, adeclineof40.2% from the July 31st total of 725,300 shares. Approximately1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 2,750,000 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 2,750,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately1.1% of the shares of the company are sold short.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised ImmunoPrecise Antibodies from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $4.00.
Read Our Latest Analysis on IPA
Institutional Investors Weigh In On ImmunoPrecise Antibodies
Several hedge funds have recently modified their holdings of the business. XTX Topco Ltd lifted its position in shares of ImmunoPrecise Antibodies by 394.4% in the 2nd quarter. XTX Topco Ltd now owns 91,382 shares of the company's stock worth $97,000 after purchasing an additional 72,897 shares during the period. Ingalls & Snyder LLC lifted its position in shares of ImmunoPrecise Antibodies by 0.8% in the 2nd quarter. Ingalls & Snyder LLC now owns 2,779,363 shares of the company's stock worth $2,946,000 after purchasing an additional 21,236 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of ImmunoPrecise Antibodies in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 6.70% of the company's stock.
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. ImmunoPrecise Antibodies has a 12 month low of $0.27 and a 12 month high of $3.25. The company has a 50 day moving average price of $1.98 and a 200-day moving average price of $1.02. The firm has a market cap of $96.68 million, a P/E ratio of -3.08 and a beta of 0.53.
ImmunoPrecise Antibodies (NASDAQ:IPA - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $5.06 million during the quarter, compared to the consensus estimate of $7.89 million. ImmunoPrecise Antibodies had a negative net margin of 122.10% and a negative return on equity of 40.62%. Analysts expect that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.
About ImmunoPrecise Antibodies
(
Get Free Report)
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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