Short Interest in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Expands By 343.4%

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,190,000 shares, an increase of 343.4% from the February 13th total of 493,900 shares. Currently, 10.9% of the shares of the company are short sold. Based on an average daily trading volume, of 6,650,000 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of ImmunoPrecise Antibodies in a research report on Friday.

ImmunoPrecise Antibodies Stock Performance

Shares of NASDAQ:IPA traded down $0.01 during midday trading on Friday, hitting $0.40. The company had a trading volume of 1,126,100 shares, compared to its average volume of 2,050,152. ImmunoPrecise Antibodies has a 12-month low of $0.27 and a 12-month high of $1.71. The company has a fifty day moving average of $0.46 and a two-hundred day moving average of $0.50. The company has a market cap of $12.27 million, a price-to-earnings ratio of -0.51 and a beta of 0.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.01 and a quick ratio of 0.85.

ImmunoPrecise Antibodies (NASDAQ:IPA) last posted its quarterly earnings results on Tuesday, December 10th. The company reported ($0.07) earnings per share 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%. On average, equities research analysts expect that ImmunoPrecise Antibodies will post -0.27 EPS for the current fiscal year.

Institutional Trading of ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC boosted its holdings in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,558,892 shares of the company’s stock after purchasing an additional 263,451 shares during the quarter. Ingalls & Snyder LLC owned about 5.41% of ImmunoPrecise Antibodies worth $996,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.