Short Interest in Innate Pharma S.A. (NASDAQ:IPHA) Declines By 13.7%

Innate Pharma S.A. (NASDAQ:IPHA) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 76,900 shares, a decline of 13.7% from the March 15th total of 89,100 shares. Based on an average daily trading volume, of 10,000 shares, the days-to-cover ratio is presently 7.7 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Innate Pharma by 27.4% during the first quarter. BlackRock Inc. now owns 504,408 shares of the company’s stock valued at $1,695,000 after acquiring an additional 108,335 shares in the last quarter. Jane Street Group LLC increased its stake in Innate Pharma by 156.3% during the 1st quarter. Jane Street Group LLC now owns 37,736 shares of the company’s stock valued at $127,000 after purchasing an additional 23,012 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in Innate Pharma during the 3rd quarter valued at $32,000. Millennium Management LLC raised its holdings in Innate Pharma by 389.8% during the fourth quarter. Millennium Management LLC now owns 71,684 shares of the company’s stock worth $267,000 after buying an additional 57,050 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Innate Pharma in the second quarter valued at $42,000. 0.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $11.50 price objective on shares of Innate Pharma in a research report on Thursday, April 11th.

Innate Pharma Stock Performance

Shares of NASDAQ IPHA opened at $2.42 on Tuesday. The firm’s 50-day moving average price is $2.55 and its 200-day moving average price is $2.55. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.60. Innate Pharma has a 1-year low of $1.81 and a 1-year high of $3.57.

Innate Pharma Company Profile

Innate Pharma SA, a biotechnology company, develops immunotherapies for cancer patients in France and internationally. The company's products include Lacutamab (IPH4102), an anti-KIR3DL2 antibody, which is in Phase II clinical trials for the treatment of cutaneous T-cell and peripheral T-cell lymphoma, as well as in Phase II clinical trials to treat refractory sézary syndrome; Monalizumab, an immune checkpoint inhibitor that is in Phase III clinical trial to treat advanced solid tumors comprising colorectal and lung cancer, as well as head and neck cancer; Avdoralimab (IPH5401), an Anti-C5aR Antibody; IPH5201, a blocking antibody that is in Phase 1 clinical trials targeting the CD39 immunosuppressive pathway; IPH5301, an anti-CD73 antibody targeting the immunosuppressive adenosine pathway to promote antitumor immunity; IPH6401, an BCMA-targeting NK cell engager; and IPH6101, a NKp46-based NK cell engager that targets CD123 proprietary multi-specific antibody format; and IPH62, an B7-H3-targeting NK cell engager.