ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Up 895.3% in January

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 359,300 shares, an increase of 895.3% from the January 15th total of 36,100 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily volume of 5,840,000 shares, the short-interest ratio is presently 0.1 days.

Analyst Ratings Changes

Separately, HC Wainwright lowered their price target on shares of ImmunoPrecise Antibodies from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, December 11th.

ImmunoPrecise Antibodies Stock Down 4.1 %

NASDAQ:IPA traded down $0.02 during trading hours on Wednesday, reaching $0.44. The company’s stock had a trading volume of 461,246 shares, compared to its average volume of 13,106,388. The company has a market capitalization of $13.73 million, a P/E ratio of -0.56 and a beta of 0.04. ImmunoPrecise Antibodies has a 12 month low of $0.32 and a 12 month high of $2.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.01. The stock has a 50 day moving average price of $0.47 and a two-hundred day moving average price of $0.56.

ImmunoPrecise Antibodies (NASDAQ:IPA) last issued its quarterly earnings data on Tuesday, December 10th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). ImmunoPrecise Antibodies had a negative return on equity of 73.74% and a negative net margin of 114.50%. Equities analysts predict that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC lifted its position in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,910 shares of the company’s stock after acquiring an additional 26,310 shares during the period. Renaissance Technologies LLC owned 0.24% of ImmunoPrecise Antibodies worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.