HC Wainwright Reaffirms Buy Rating for ImmunoPrecise Antibodies (NASDAQ:IPA)

ImmunoPrecise Antibodies (NASDAQ:IPA)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $7.00 price target on the stock.

ImmunoPrecise Antibodies Price Performance

IPA opened at $0.38 on Friday. ImmunoPrecise Antibodies has a 1 year low of $0.27 and a 1 year high of $1.64. The company’s 50 day simple moving average is $0.46 and its 200 day simple moving average is $0.50. The stock has a market capitalization of $11.96 million, a PE ratio of -0.49 and a beta of 0.09. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 1.01.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ImmunoPrecise Antibodies stock. Ingalls & Snyder LLC raised its holdings in shares of ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) by 20.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,558,892 shares of the company’s stock after buying an additional 263,451 shares during the period. Ingalls & Snyder LLC owned about 5.41% of ImmunoPrecise Antibodies worth $996,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.