ImmunoPrecise Antibodies (NASDAQ:IPA) Stock Price Up 15.5% – Should You Buy?

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) shares shot up 15.5% on Friday . The stock traded as high as $0.54 and last traded at $0.52. 1,246,779 shares traded hands during trading, an increase of 63% from the average session volume of 766,140 shares. The stock had previously closed at $0.45.

Analyst Upgrades and Downgrades

Separately, HC Wainwright dropped their target price on shares of ImmunoPrecise Antibodies from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, December 11th.

ImmunoPrecise Antibodies Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.01 and a quick ratio of 0.82. The company has a market capitalization of $16.15 million, a PE ratio of -0.67 and a beta of 0.06. The stock has a 50-day simple moving average of $0.42 and a 200 day simple moving average of $0.65.

Hedge Funds Weigh In On ImmunoPrecise Antibodies

An institutional investor recently raised its position in ImmunoPrecise Antibodies stock. Renaissance Technologies LLC grew its stake in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 70.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,910 shares of the company’s stock after buying an additional 26,310 shares during the period. Renaissance Technologies LLC owned 0.24% of ImmunoPrecise Antibodies worth $65,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.