Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) Short Interest Down 23.2% in March

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 76,183 shares, a decline of 23.2% from the February 26th total of 99,192 shares. Based on an average daily trading volume, of 17,232 shares, the short-interest ratio is presently 4.4 days. Approximately 0.1% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Innate Pharma in a research note on Thursday, January 22nd. BTIG Research started coverage on shares of Innate Pharma in a research report on Thursday, March 12th. They set a “buy” rating and a $8.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Innate Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Hedge Funds Weigh In On Innate Pharma

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

Innate Pharma Stock Performance

Innate Pharma stock traded up $0.02 during trading hours on Tuesday, hitting $1.28. 10,964 shares of the stock traded hands, compared to its average volume of 20,433. Innate Pharma has a one year low of $1.17 and a one year high of $2.63. The firm’s 50-day moving average price is $1.61 and its two-hundred day moving average price is $1.80.

Innate Pharma (NASDAQ:IPHA) last announced its earnings results on Saturday, February 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $2.41 million during the quarter.

Innate Pharma Company Profile

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.