Innate Pharma (NASDAQ:IPHA) Shares Up 3.6% – Here’s What Happened

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) shares shot up 3.6% during mid-day trading on Tuesday . The stock traded as high as $1.7650 and last traded at $1.72. 9,959 shares were traded during mid-day trading, a decline of 53% from the average session volume of 21,379 shares. The stock had previously closed at $1.66.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BTIG Research restated a “buy” rating and set a $8.00 price objective on shares of Innate Pharma in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Innate Pharma in a research note on Thursday, January 22nd. Finally, HC Wainwright set a $5.00 price target on shares of Innate Pharma and gave the company a “buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Innate Pharma Stock Up 3.6%

The business’s 50 day moving average price is $1.75 and its 200 day moving average price is $1.91.

Institutional Investors Weigh In On Innate Pharma

A number of hedge funds have recently added to or reduced their stakes in IPHA. Jane Street Group LLC purchased a new position in shares of Innate Pharma in the 4th quarter worth $162,000. Millennium Management LLC purchased a new stake in Innate Pharma during the fourth quarter valued at $36,000. Finally, OLD Mission Capital LLC bought a new position in Innate Pharma in the fourth quarter valued at about $50,000. 0.16% of the stock is currently owned by hedge funds and other institutional investors.

About Innate Pharma

Innate Pharma SA is a clinical-stage biotechnology company specializing in the discovery and development of antibody-based therapies that harness the body’s innate immune system to combat cancer. Founded in 1999 and headquartered in Marseille, France, the company pioneers novel monoclonal antibodies designed to activate natural killer cells and macrophages, offering a complementary approach to existing immuno-oncology treatments.

The company’s lead program, monalizumab, targets the NKG2A immune checkpoint receptor and is being developed in collaboration with AstraZeneca.