Short Interest in Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) Expands By 48.9%

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 227,041 shares, an increase of 48.9% from the July 30th total of 152,432 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 721,354 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

IPHA has been the subject of a number of research reports. Weiss Ratings upgraded Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 26th. BTIG Research lifted their target price on Innate Pharma from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. UBS Group reiterated a “buy” rating on shares of Innate Pharma in a report on Tuesday, August 11th. HC Wainwright upped their target price on Innate Pharma from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Citigroup raised Innate Pharma from a “buy” rating to an “outperform” rating in a research report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Innate Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Innate Pharma Trading Up 2.4%

NASDAQ IPHA opened at $2.17 on Thursday. The firm’s 50 day moving average price is $1.94 and its 200-day moving average price is $1.72. Innate Pharma has a 52-week low of $1.17 and a 52-week high of $2.71.

Institutional Trading of Innate Pharma

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

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.