Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA) Sees Large Decline in Short Interest

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

Wall Street Analysts Forecast Growth

IPHA has been the topic of several research reports. UBS Group restated a “buy” rating on shares of Innate Pharma in a research note on Tuesday, August 11th. HC Wainwright raised their target price on shares of Innate Pharma from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Leerink Partners raised shares of Innate Pharma from a “market perform” rating to an “outperform” rating and set a $4.00 price target on the stock in a research report on Tuesday, August 11th. Weiss Ratings upgraded Innate Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 26th. Finally, Citigroup upgraded Innate Pharma from a “buy” rating to an “outperform” rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Innate Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Innate Pharma Stock Up 2.5%

Shares of IPHA stock traded up $0.05 on Tuesday, reaching $1.90. The stock had a trading volume of 32,777 shares, compared to its average volume of 83,341. Innate Pharma has a 12 month low of $1.17 and a 12 month high of $2.71. The firm’s 50-day moving average is $1.97 and its two-hundred day moving average is $1.74.

About Innate Pharma

Innate Pharma SA is a biotechnology company headquartered in Marseille, France, focused on developing immunotherapies for cancer. Founded in 1999, the company uses its expertise in the biology of natural killer cells and other components of the innate immune system to develop antibody-based treatments designed to help the immune system recognize and attack cancer cells.

Innate Pharma’s pipeline includes lacutamab, an investigational antibody targeting KIR3DL2 for certain forms of cutaneous T-cell lymphoma and other T-cell malignancies.