Short Interest in ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Rises By 1,290.2%

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 440,700 shares, a growth of 1,290.2% from the February 29th total of 31,700 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average trading volume of 571,700 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

Several equities research analysts have commented on IPA shares. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of ImmunoPrecise Antibodies in a research report on Friday, March 15th. Benchmark reissued a “speculative buy” rating and set a $5.00 price target on shares of ImmunoPrecise Antibodies in a research report on Friday, March 15th.

Institutional Investors Weigh In On ImmunoPrecise Antibodies

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPA. Rathbones Group PLC bought a new stake in shares of ImmunoPrecise Antibodies in the 3rd quarter valued at about $26,000. Dimensional Fund Advisors LP bought a new stake in shares of ImmunoPrecise Antibodies in the 1st quarter valued at about $67,000. Northern Trust Corp bought a new stake in shares of ImmunoPrecise Antibodies in the 4th quarter valued at about $104,000. Bank of America Corp DE raised its holdings in shares of ImmunoPrecise Antibodies by 1,849.1% in the 1st quarter. Bank of America Corp DE now owns 57,517 shares of the company’s stock valued at $295,000 after purchasing an additional 54,566 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of ImmunoPrecise Antibodies by 62.7% in the 1st quarter. Bank of Montreal Can now owns 140,454 shares of the company’s stock valued at $718,000 after purchasing an additional 54,145 shares during the period. 6.70% of the stock is owned by institutional investors.

ImmunoPrecise Antibodies Trading Up 3.3 %

Shares of NASDAQ:IPA opened at $1.57 on Thursday. The company’s 50-day moving average price is $1.76 and its two-hundred day moving average price is $1.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.38. ImmunoPrecise Antibodies has a one year low of $0.94 and a one year high of $4.22. The stock has a market capitalization of $41.31 million, a PE ratio of -3.83 and a beta of 0.12.

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.