Innate Pharma (NASDAQ:IPHA) Rating Reiterated by HC Wainwright
by Danessa Lincoln · The Markets DailyHC Wainwright reaffirmed their buy rating on shares of Innate Pharma (NASDAQ:IPHA – Free Report) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $11.50 target price on the stock.
Innate Pharma Price Performance
Shares of Innate Pharma stock opened at $2.48 on Thursday. Innate Pharma has a 52 week low of $1.81 and a 52 week high of $3.57. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $2.56 and its two-hundred day moving average is $2.55.
Hedge Funds Weigh In On Innate Pharma
Several hedge funds have recently added to or reduced their stakes in IPHA. BlackRock Inc. increased its stake in Innate Pharma by 27.4% in the first quarter. BlackRock Inc. now owns 504,408 shares of the company’s stock valued at $1,695,000 after purchasing an additional 108,335 shares during the last quarter. Jane Street Group LLC increased its stake in Innate Pharma by 156.3% in the first 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 during the last quarter. Balyasny Asset Management LLC purchased a new position in Innate Pharma in the third quarter valued at approximately $32,000. Millennium Management LLC increased its stake in Innate Pharma by 389.8% in the fourth quarter. Millennium Management LLC now owns 71,684 shares of the company’s stock valued at $267,000 after purchasing an additional 57,050 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Innate Pharma during the second quarter worth approximately $42,000. 0.16% of the stock is currently owned by hedge funds and other institutional investors.
About Innate Pharma
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.