Innate Pharma (NASDAQ:IPHA) Trading 4.4% Higher – Time to Buy?

Shares of Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) shot up 4.4% during trading on Tuesday . The company traded as high as $1.9574 and last traded at $1.89. Approximately 11,716 shares traded hands during trading, a decline of 71% from the average session volume of 40,569 shares. The stock had previously closed at $1.81.

Wall Street Analysts Forecast Growth

IPHA has been the topic of a number of recent research reports. BTIG Research started coverage on shares of Innate Pharma in a research report on Thursday, March 12th. They issued a “buy” rating and a $8.00 target price on the stock. Weiss Ratings cut shares of Innate Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Innate Pharma in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Innate Pharma Stock Performance

The stock has a 50-day moving average of $1.70 and a two-hundred day moving average of $1.67.

Innate Pharma (NASDAQ:IPHA) last released its earnings results on Saturday, February 14th. The company reported ($0.18) EPS for the quarter. The business had revenue of $2.41 million during the quarter. On average, equities analysts forecast that Innate Pharma S.A. Sponsored ADR will post -0.55 earnings per share for the current year.

Institutional Trading of Innate Pharma

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

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.