ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Update

Key Points

• Short interest for ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) increased by 114.5% in July, reaching a total of 495,800 shares.
• Analysts have a mixed view of the stock, with HC Wainwright maintaining a "buy" rating and a $5.00 price target, while Wall Street Zen upgraded it from "sell" to "hold."
• ImmunoPrecise Antibodies reported a quarterly loss of ($0.04) EPS, missing estimates, and had revenues of $5.06 million, notably below the expected $7.89 million.

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 495,800 shares, agrowthof114.5% from the June 30th total of 231,100 shares. Approximately1.3% of the shares of the company are sold short. Based on an average trading volume of 2,240,000 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 2,240,000 shares, the short-interest ratio is currently 0.2 days. Approximately1.3% of the shares of the company are sold short.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

A hedge fund recently bought a new stake in ImmunoPrecise Antibodies stock. Baader Bank Aktiengesellschaft bought a new position in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 26,961 shares of the company's stock, valued at approximately $29,000. Baader Bank Aktiengesellschaft owned 0.06% of ImmunoPrecise Antibodies as of its most recent filing with the SEC. Institutional investors and hedge funds own 6.70% of the company's stock.

ImmunoPrecise Antibodies Price Performance

NASDAQ:IPA traded up $0.08 on Wednesday, reaching $1.89. 939,816 shares of the company's stock traded hands, compared to its average volume of 1,907,012. The stock has a 50-day simple moving average of $1.30 and a 200-day simple moving average of $0.74. ImmunoPrecise Antibodies has a 12 month low of $0.27 and a 12 month high of $2.41. The firm has a market cap of $87.22 million, a PE ratio of -2.78 and a beta of 0.49. The company has a quick ratio of 1.85, a current ratio of 2.08 and a debt-to-equity ratio of 0.49.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IPA. Wall Street Zen raised ImmunoPrecise Antibodies from a "sell" rating to a "hold" rating in a research report on Saturday. HC Wainwright reiterated a "buy" rating and issued a $5.00 price target on shares of ImmunoPrecise Antibodies in a research report on Friday, April 11th.

About ImmunoPrecise Antibodies

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.