ImmunoPrecise Antibodies (NASDAQ:IPA) Trading Down 9.9%

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA)’s stock price dropped 9.9% on Thursday . The stock traded as low as $1.86 and last traded at $1.91. Approximately 83,920 shares were traded during trading, an increase of 38% from the average daily volume of 61,025 shares. The stock had previously closed at $2.12.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of ImmunoPrecise Antibodies in a research note on Monday, September 18th.

ImmunoPrecise Antibodies Price Performance

The company has a quick ratio of 2.10, a current ratio of 2.45 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $1.77 and a two-hundred day moving average price of $2.42. The stock has a market capitalization of $47.85 million, a P/E ratio of -3.03 and a beta of 0.32.

ImmunoPrecise Antibodies (NASDAQ:IPA) last released its quarterly earnings data on Thursday, September 14th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. The company had revenue of $4.26 million during the quarter, compared to the consensus estimate of $3.98 million. ImmunoPrecise Antibodies had a negative return on equity of 35.22% and a negative net margin of 95.81%. On average, analysts expect that ImmunoPrecise Antibodies Ltd. will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new position in shares of ImmunoPrecise Antibodies during the 1st quarter valued at about $67,000. Bank of America Corp DE lifted its position in shares of ImmunoPrecise Antibodies by 1,849.1% during the 1st quarter. Bank of America Corp DE now owns 57,517 shares of the company’s stock valued at $295,000 after buying an additional 54,566 shares in the last quarter. Bank of Montreal Can purchased a new position in ImmunoPrecise Antibodies in the 2nd quarter worth approximately $668,000. Finally, Ingalls & Snyder LLC lifted its holdings in ImmunoPrecise Antibodies by 9.1% in the 1st quarter. Ingalls & Snyder LLC now owns 1,058,035 shares of the company’s stock worth $2,931,000 after purchasing an additional 87,888 shares in the last quarter. 5.71% of the stock is owned by hedge funds and other institutional investors.

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.