ImmunoPrecise Antibodies (NASDAQ:IPA) Trading Down 2%

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPAGet Rating) shares were down 2% on Friday . The company traded as low as $4.70 and last traded at $4.80. Approximately 48,137 shares were traded during mid-day trading, an increase of 88% from the average daily volume of 25,595 shares. The stock had previously closed at $4.90.

Analysts Set New Price Targets

Separately, HC Wainwright started coverage on shares of ImmunoPrecise Antibodies in a report on Friday, December 2nd. They issued a “buy” rating and a $9.00 target price on the stock.

ImmunoPrecise Antibodies Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.89 and a current ratio of 3.10. The stock has a market cap of $119.69 million, a PE ratio of -5.58 and a beta of 0.73. The company’s 50 day simple moving average is $5.14 and its 200 day simple moving average is $4.94.

Institutional Investors Weigh In On ImmunoPrecise Antibodies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gradient Capital Advisors LLC increased its stake in ImmunoPrecise Antibodies by 34.0% in the 3rd quarter. Gradient Capital Advisors LLC now owns 26,808 shares of the company’s stock valued at $107,000 after buying an additional 6,808 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in ImmunoPrecise Antibodies by 59.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 24,573 shares of the company’s stock valued at $98,000 after buying an additional 9,209 shares during the last quarter. Ingalls & Snyder LLC increased its stake in shares of ImmunoPrecise Antibodies by 2.9% during the 3rd quarter. Ingalls & Snyder LLC now owns 967,090 shares of the company’s stock worth $3,859,000 after purchasing an additional 27,615 shares during the last quarter. Cibc World Market Inc. purchased a new stake in shares of ImmunoPrecise Antibodies during the 2nd quarter worth approximately $183,000. Finally, Bank of Montreal Can increased its stake in shares of ImmunoPrecise Antibodies by 38.2% during the 2nd quarter. Bank of Montreal Can now owns 194,164 shares of the company’s stock worth $801,000 after purchasing an additional 53,710 shares during the last quarter. Hedge funds and other institutional investors own 5.68% of the company’s stock.

About ImmunoPrecise Antibodies

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ImmunoPrecise Antibodies Ltd., together with its subsidiaries, engages in antibody production and provision of related services in the United States, Canada, Europe, Australia, and internationally. The company offers a range of antibodies, enzymes, enzyme activity assays, arthritis animal products, proteins, deiminated proteins, organoid growth factors, and hybridoma products for research purposes.

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