Short Interest in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Expands By 114.5%

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 495,800 shares, agrowthof114.5% from the June 30th total of 231,100 shares. Based on an average trading volume of 2,240,000 shares, the short-interest ratio is presently 0.2 days. Currently,1.3% of the company’s stock are sold short. Currently,1.3% of the company’s stock are sold short. Based on an average trading volume of 2,240,000 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

IPA has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of ImmunoPrecise Antibodies in a research note on Friday, April 11th. Wall Street Zen upgraded shares of ImmunoPrecise Antibodies from a “sell” rating to a “hold” rating in a research note on Saturday.

ImmunoPrecise Antibodies Stock Performance

Shares of IPA opened at $1.83 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.08. The stock has a market capitalization of $84.45 million, a P/E ratio of -2.69 and a beta of 0.49. The company’s fifty day moving average is $1.25 and its two-hundred day moving average is $0.72. ImmunoPrecise Antibodies has a 1 year low of $0.27 and a 1 year high of $2.41.

ImmunoPrecise Antibodies (NASDAQ:IPA) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). ImmunoPrecise Antibodies had a negative net margin of 122.10% and a negative return on equity of 40.62%. The firm had revenue of $5.06 million during the quarter, compared to analyst estimates of $7.89 million. On average, sell-side analysts predict that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current year.

Institutional Investors Weigh In On ImmunoPrecise Antibodies

A hedge fund recently bought a new stake in ImmunoPrecise Antibodies stock. Baader Bank Aktiengesellschaft purchased a new stake in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,961 shares of the company’s stock, valued at approximately $29,000. Baader Bank Aktiengesellschaft owned 0.06% of ImmunoPrecise Antibodies as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 6.70% of the company’s stock.

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.