ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Short Interest Up 355.9% in October

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 666,100 shares, a growth of 355.9% from the October 15th total of 146,100 shares. Based on an average daily trading volume, of 469,000 shares, the short-interest ratio is presently 1.4 days. Approximately 3.1% of the shares of the stock are sold short.

Institutional Trading of ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC lifted its stake in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,910 shares of the company’s stock after purchasing 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 reporting period. 6.70% of the stock is owned by institutional investors and hedge funds.

ImmunoPrecise Antibodies Trading Up 2.1 %

Shares of NASDAQ:IPA traded up $0.01 during trading on Wednesday, hitting $0.48. 2,465,587 shares of the company were exchanged, compared to its average volume of 352,208. ImmunoPrecise Antibodies has a 1-year low of $0.35 and a 1-year high of $2.60. The business’s 50 day moving average is $0.58 and its 200-day moving average is $0.84. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.36.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IPA. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of ImmunoPrecise Antibodies in a report on Tuesday, September 17th. Benchmark lowered their price target on shares of ImmunoPrecise Antibodies from $5.00 to $3.00 and set a “speculative buy” rating for the company in a report on Wednesday, August 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.