Innate Pharma (NASDAQ:IPHA) Shares Up 0.6% – Here’s Why

Shares of Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) were up 0.6% during mid-day trading on Wednesday . The company traded as high as $1.81 and last traded at $1.80. Approximately 3,057 shares were traded during mid-day trading, a decline of 65% from the average session volume of 8,795 shares. The stock had previously closed at $1.79.

Analysts Set New Price Targets

Several brokerages have recently commented on IPHA. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Innate Pharma in a research report on Tuesday, April 7th. Weiss Ratings raised Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Innate Pharma Price Performance

The business has a 50-day moving average of $1.79 and a 200 day moving average of $1.66.

Institutional Investors Weigh In On Innate Pharma

Large investors have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in shares of Innate Pharma in the 4th quarter worth $36,000. OLD Mission Capital LLC purchased a new position in Innate Pharma in the fourth quarter worth about $50,000. Finally, Jane Street Group LLC bought a new stake in Innate Pharma during the fourth quarter worth approximately $162,000. Institutional investors own 0.16% of the company’s stock.

About Innate Pharma

Innate Pharma SA is a clinical-stage biotechnology company specializing in the discovery and development of antibody-based therapies that harness the body’s innate immune system to combat cancer. Founded in 1999 and headquartered in Marseille, France, the company pioneers novel monoclonal antibodies designed to activate natural killer cells and macrophages, offering a complementary approach to existing immuno-oncology treatments.

The company’s lead program, monalizumab, targets the NKG2A immune checkpoint receptor and is being developed in collaboration with AstraZeneca.