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

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

Innate Pharma Stock Up 4.5%

IPHA stock traded up $0.10 during midday trading on Wednesday, hitting $2.21. The stock had a trading volume of 15,023 shares, compared to its average volume of 86,635. The company’s 50-day moving average price is $1.94 and its 200 day moving average price is $1.72. Innate Pharma has a 12-month low of $1.17 and a 12-month high of $2.71.

Analysts Set New Price Targets

Several brokerages recently issued reports on IPHA. HC Wainwright lifted their price objective on Innate Pharma from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. BTIG Research raised their price target on Innate Pharma from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Leerink Partners raised Innate Pharma from a “market perform” rating to an “outperform” rating and set a $4.00 price target for the company in a report on Tuesday, August 11th. Weiss Ratings upgraded Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 26th. Finally, UBS Group reaffirmed a “buy” rating on shares of Innate Pharma in a research note on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

Institutional Investors Weigh In On Innate Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in Innate Pharma in the fourth quarter valued at $162,000. Millennium Management LLC acquired a new position in shares of Innate Pharma during the 4th quarter valued at about $36,000. Finally, OLD Mission Capital LLC purchased a new position in shares of Innate Pharma during the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 0.16% of the company’s stock.

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.