Short Interest in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Expands By 37.5%

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 493,900 shares, an increase of 37.5% from the January 31st total of 359,300 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,560,000 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC lifted its position in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,558,892 shares of the company’s stock after purchasing an additional 263,451 shares during the period. Ingalls & Snyder LLC owned about 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 6.70% of the company’s stock.

ImmunoPrecise Antibodies Trading Up 11.7 %

Shares of NASDAQ:IPA traded up $0.04 during trading on Wednesday, reaching $0.39. 940,339 shares of the stock were exchanged, compared to its average volume of 2,022,009. The firm’s 50-day moving average price is $0.46 and its 200 day moving average price is $0.52. The firm has a market cap of $12.24 million, a price-to-earnings ratio of -0.51 and a beta of 0.04. ImmunoPrecise Antibodies has a 12-month low of $0.27 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.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released its quarterly earnings data on Tuesday, December 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, sell-side analysts anticipate that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright cut their price target on 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 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.