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

Key Points

• Short interest in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) surged by 46.3% in July, with total short interest reaching 725,300 shares.
• Institutional investors are increasing their stakes, with XTX Topco Ltd. boosting its holdings by 394.4% in Q2, while several others adjusted their investments in the company.
• Analysts have upgraded ImmunoPrecise Antibodies from a "sell" to a "hold" rating, with a consensus rating of "Buy" and an average price target of $4.00.

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 725,300 shares, anincreaseof46.3% from the July 15th total of 495,800 shares. Based on an average trading volume of 2,410,000 shares, the short-interest ratio is currently 0.3 days. Approximately1.8% of the company's shares are short sold. Approximately1.8% of the company's shares are short sold. Based on an average trading volume of 2,410,000 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of ImmunoPrecise Antibodies from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $4.00.

ImmunoPrecise Antibodies Stock Up 21.7%

Shares of NASDAQ IPA traded up $0.57 during midday trading on Friday, hitting $3.20. The company's stock had a trading volume of 2,990,772 shares, compared to its average volume of 1,640,811. The business's fifty day simple moving average is $1.70 and its two-hundred day simple moving average is $0.89. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.08 and a quick ratio of 1.85. ImmunoPrecise Antibodies has a 1 year low of $0.27 and a 1 year high of $3.21. The firm has a market capitalization of $147.68 million, a price-to-earnings ratio of -4.71 and a beta of 0.49.

ImmunoPrecise Antibodies (NASDAQ:IPA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.04) 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 during the quarter, compared to analysts' expectations of $7.89 million. On average, equities analysts predict that ImmunoPrecise Antibodies will post -0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IPA. XTX Topco Ltd lifted its stake in ImmunoPrecise Antibodies by 394.4% in the second quarter. XTX Topco Ltd now owns 91,382 shares of the company's stock worth $97,000 after acquiring an additional 72,897 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in ImmunoPrecise Antibodies in the second quarter worth approximately $29,000. Finally, Ingalls & Snyder LLC lifted its stake in ImmunoPrecise Antibodies by 0.8% in the second quarter. Ingalls & Snyder LLC now owns 2,779,363 shares of the company's stock worth $2,946,000 after acquiring an additional 21,236 shares during the last quarter. Hedge funds and other institutional investors own 6.70% of the company's stock.

ImmunoPrecise Antibodies Company Profile

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.