ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Up 114.5% in July

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) saw a large 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. Based on an average daily trading volume, of 2,240,000 shares, the short-interest ratio is presently 0.2 days. Approximately1.3% of the company's stock are sold short. Approximately1.3% of the company's stock are sold short. Based on an average daily trading volume, of 2,240,000 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. HC Wainwright reissued a "buy" rating and issued a $5.00 price target on shares of ImmunoPrecise Antibodies in a research report on Friday, April 11th. Wall Street Zen raised shares of ImmunoPrecise Antibodies from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd.

ImmunoPrecise Antibodies Price Performance

IPA stock traded up $0.15 during trading on Friday, reaching $2.00. 2,081,817 shares of the company were exchanged, compared to its average volume of 1,683,038. ImmunoPrecise Antibodies has a 52-week low of $0.27 and a 52-week high of $2.41. The company has a market cap of $92.30 million, a P/E ratio of -2.94 and a beta of 0.49. 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's 50 day moving average price is $1.35 and its 200 day moving average price is $0.76.

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 the consensus estimate 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%. As a group, analysts predict that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC raised its stake in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA - Free Report) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,779,363 shares of the company's stock after purchasing an additional 21,236 shares during the period. Ingalls & Snyder LLC owned 6.07% of ImmunoPrecise Antibodies worth $2,946,000 at the end of the most recent reporting period. 6.70% of the stock is currently owned by hedge funds and other institutional investors.

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.