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

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,590,000 shares, a decrease of 47.5% from the March 15th total of 3,030,000 shares. Approximately 7.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 7,230,000 shares, the days-to-cover ratio is currently 0.2 days.

ImmunoPrecise Antibodies Trading Up 3.7 %

NASDAQ IPA traded up $0.02 on Wednesday, hitting $0.43. 56,092 shares of the company were exchanged, compared to its average volume of 2,077,607. ImmunoPrecise Antibodies has a twelve month low of $0.27 and a twelve month high of $1.39. The company’s 50 day moving average price is $0.40 and its 200-day moving average price is $0.45. The firm has a market capitalization of $13.24 million, a P/E ratio of -0.55 and a beta of -0.02. 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 issued its quarterly earnings results on Friday, March 28th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). ImmunoPrecise Antibodies had a negative return on equity of 73.74% and a negative net margin of 114.50%. The business had revenue of $4.23 million for the quarter, compared to the consensus estimate of $6.59 million. Analysts predict that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IPA has been the topic of a number of research analyst reports. Benchmark reaffirmed a “speculative buy” rating and set a $3.00 target price on shares of ImmunoPrecise Antibodies in a report on Tuesday, April 1st. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of ImmunoPrecise Antibodies in a report on Friday, April 11th.

About ImmunoPrecise Antibodies

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.