Short Interest in Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) Declines By 63.9%

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 81,961 shares, a decline of 63.9% from the August 15th total of 227,041 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 45,216 shares, the short-interest ratio is presently 1.8 days.

Innate Pharma Stock Performance

NASDAQ:IPHA traded down $0.02 on Monday, reaching $1.85. 20,761 shares of the stock traded hands, compared to its average volume of 83,788. Innate Pharma has a 1-year low of $1.17 and a 1-year high of $2.71. The company’s 50 day moving average is $1.97 and its 200-day moving average is $1.74.

Analyst Ratings Changes

A number of research firms have weighed in on IPHA. BTIG Research boosted their target price on shares of Innate Pharma from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. HC Wainwright raised their price target on shares of Innate Pharma from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Citigroup upgraded shares of Innate Pharma from a “buy” rating to an “outperform” rating in a report on Tuesday, August 11th. Leerink Partners raised shares of Innate Pharma from a “market perform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a research note on Tuesday, August 11th. Finally, UBS Group restated a “buy” rating on shares of Innate Pharma in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

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.