ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Up 65.9% in September

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 182,200 shares, an increase of 65.9% from the September 15th total of 109,800 shares. Based on an average daily trading volume, of 172,200 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC increased its stake in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,910 shares of the company’s stock after buying an additional 26,310 shares during the quarter. Renaissance Technologies LLC owned about 0.24% of ImmunoPrecise Antibodies worth $65,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 6.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IPA shares. Benchmark reduced their price objective on shares of ImmunoPrecise Antibodies from $5.00 to $3.00 and set a “speculative buy” rating on the stock in a report on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of ImmunoPrecise Antibodies in a report on Tuesday, September 17th.

ImmunoPrecise Antibodies Stock Down 0.9 %

Shares of NASDAQ:IPA traded down $0.01 during trading on Monday, hitting $0.58. 28,025 shares of the company were exchanged, compared to its average volume of 274,172. The firm’s 50 day moving average price is $0.70 and its 200-day moving average price is $0.97. ImmunoPrecise Antibodies has a 12-month low of $0.50 and a 12-month high of $2.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.99 and a quick ratio of 0.82. The stock has a market capitalization of $15.33 million, a P/E ratio of -1.44 and a beta of 0.09.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released its quarterly earnings data on Monday, September 16th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). ImmunoPrecise Antibodies had a negative net margin of 114.67% and a negative return on equity of 65.37%. The company had revenue of $3.85 million during the quarter, compared to analyst estimates of $4.96 million. On average, research analysts predict that ImmunoPrecise Antibodies will post -0.3 earnings per share for the current fiscal year.

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.