ImmunoPrecise Antibodies Ltd [NASDAQ: IPA] stock went on an upward path that rose over 16.46% on Thursday, amounting to a one-week price decrease of less than -0.27%. The company report on March 7, 2024 at 7:02 AM that IPA’s subsidiary BioStrand Unveils Major Breakthrough in Life Sciences with Advanced Foundation AI Model Utilizing LLM Stacking and HYFT Technology.
Dirk Van Hyfte MD, PhD, Co-Founder and Head of Innovation of BioStrand, to present findings live next week at the HIMSS24 conference in Orlando, Florida.
IPA (IMMUNOPRECISE ANTIBODIES LTD.) (the “Company” or “IPA”) (NASDAQ: IPA), an artificial intelligence-driven biotherapeutic research and technology company, today announced the development of a Foundation AI Model that represents a significant advancement in life sciences research and development. The Company’s model uniquely combines the strengths of Large Language Models (LLMs) through an advanced stacking technique with BioStrand’s patented HYFT Technology. The HYFT’s ability to pinpoint unique ‘fingerprints’ in biological sequences enables the stacked LLMs to apply their vast knowledge base with greater specificity, leading to more accurate predictions and insights. This integration marks a pivotal moment in the utilization of artificial intelligence for complex biological data analysis and drug discovery.
Over the last 12 months, IPA stock dropped by -53.94%. The one-year ImmunoPrecise Antibodies Ltd stock forecast points to a potential upside of 73.97. The average equity rating for IPA stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $45.89 million, with 25.05 million shares outstanding and 21.57 million shares in the current float. Compared to the average trading volume of 91.65K shares, IPA stock reached a trading volume of 26701406 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on ImmunoPrecise Antibodies Ltd [IPA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IPA shares is $7.07 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IPA stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for ImmunoPrecise Antibodies Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 02, 2022. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on October 25, 2021, representing the official price target for ImmunoPrecise Antibodies Ltd stock.
The Average True Range (ATR) for ImmunoPrecise Antibodies Ltd is set at 0.23, with the Price to Sales ratio for IPA stock in the period of the last 12 months amounting to 2.73. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 0.17.
IPA Stock Performance Analysis:
ImmunoPrecise Antibodies Ltd [IPA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.27. With this latest performance, IPA shares dropped by -23.65% in over the last four-week period, additionally sinking by -14.02% over the last 6 months – not to mention a drop of -53.94% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IPA stock in for the last two-week period is set at 51.20, with the RSI for the last a single of trading hit 51.78, and the three-weeks RSI is set at 51.60 for ImmunoPrecise Antibodies Ltd [IPA]. The present Moving Average for the last 50 days of trading for this stock 1.7489, while it was recorded at 1.7400 for the last single week of trading, and 2.0203 for the last 200 days.
Insight into ImmunoPrecise Antibodies Ltd Fundamentals:
ImmunoPrecise Antibodies Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.72 and a Current Ratio set at 2.04.
IPA Stock EPS
With the latest financial reports released by the company, ImmunoPrecise Antibodies Ltd posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IPA.
ImmunoPrecise Antibodies Ltd [IPA] Institutonal Ownership Details
The top three institutional holders of IPA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IPA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IPA stock with ownership which is approximately 5.8325%.
