Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) Short Interest Up 171.5% in May

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) saw a significant increase in short interest in May. As of May 15th, there was short interest totaling 245,729 shares, an increase of 171.5% from the April 30th total of 90,515 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 236,746 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

IPHA has been the topic of a number of recent research reports. Weiss Ratings upgraded Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 14th. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Innate Pharma in a research note on Tuesday, April 7th. Finally, BTIG Research initiated coverage on Innate Pharma in a research note on Thursday, March 12th. They set a “buy” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Institutional Trading of Innate Pharma

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in shares of Innate Pharma during the fourth quarter worth about $36,000. OLD Mission Capital LLC purchased a new stake in shares of Innate Pharma during the fourth quarter worth about $50,000. Finally, Jane Street Group LLC purchased a new stake in shares of Innate Pharma during the fourth quarter worth about $162,000. 0.16% of the stock is owned by hedge funds and other institutional investors.

Innate Pharma Trading Up 5.2%

Shares of IPHA traded up $0.09 during midday trading on Friday, reaching $1.83. 10,477 shares of the company were exchanged, compared to its average volume of 155,287. The stock has a 50-day moving average price of $1.54 and a 200-day moving average price of $1.68. Innate Pharma has a 1-year low of $1.17 and a 1-year high of $2.63.

Innate Pharma (NASDAQ:IPHA) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($0.18) EPS for the quarter. The business had revenue of $2.41 million during the quarter. Equities analysts forecast that Innate Pharma will post -0.55 earnings per share for the current fiscal year.

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.