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

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,030,000 shares, a growth of 38.4% from the February 28th total of 2,190,000 shares. Based on an average daily volume of 7,230,000 shares, the short-interest ratio is presently 0.4 days. Approximately 14.0% of the company’s shares are short sold.

ImmunoPrecise Antibodies Stock Down 11.0 %

ImmunoPrecise Antibodies stock opened at $0.39 on Monday. The firm has a market capitalization of $12.18 million, a P/E ratio of -0.50 and a beta of 0.09. The stock’s fifty day simple moving average is $0.44 and its 200-day simple moving average is $0.48. ImmunoPrecise Antibodies has a twelve month low of $0.27 and a twelve month high of $1.59. The company has a current ratio of 1.01, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36.

ImmunoPrecise Antibodies (NASDAQ:IPA) last issued its quarterly earnings results on Friday, March 28th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). ImmunoPrecise Antibodies had a negative return on equity of 73.74% and a negative net margin of 114.50%. The company had revenue of $4.23 million for the quarter, compared to the consensus estimate of $6.59 million. As a group, equities analysts expect that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC lifted its position in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. 6.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of ImmunoPrecise Antibodies in a research note on Friday, March 14th.

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.