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

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) was the target of a significant increase in short interest during the month of 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. Based on an average trading volume of 236,746 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.4% of the company’s stock are sold short.

Innate Pharma Stock Up 5.2%

Innate Pharma stock traded up $0.09 during midday trading on Friday, hitting $1.83. The stock had a trading volume of 10,477 shares, compared to its average volume of 155,287. Innate Pharma has a 12 month low of $1.17 and a 12 month high of $2.63. The business has a fifty day moving average price of $1.54 and a 200 day moving average price of $1.68.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IPHA. Weiss Ratings raised Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. BTIG Research initiated coverage on Innate Pharma in a report on Thursday, March 12th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Innate Pharma in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Institutional Trading of Innate Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in Innate Pharma in the fourth quarter valued at approximately $36,000. OLD Mission Capital LLC acquired a new position in Innate Pharma in the fourth quarter valued at approximately $50,000. Finally, Jane Street Group LLC acquired a new position in Innate Pharma in the fourth quarter valued at approximately $162,000. 0.16% of the stock is owned by 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.