HC Wainwright Reaffirms Buy Rating for Innate Pharma (NASDAQ:IPHA)

HC Wainwright reiterated their buy rating on shares of Innate Pharma (NASDAQ:IPHAFree Report) in a report issued on Monday, Benzinga reports. They currently have a $11.50 price target on the stock.

Separately, Citigroup dropped their price target on shares of Innate Pharma from $12.00 to $8.00 in a research report on Monday.

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Innate Pharma Stock Down 8.1 %

NASDAQ IPHA opened at $2.73 on Monday. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.74. Innate Pharma has a 1-year low of $1.90 and a 1-year high of $3.97. The company has a 50 day moving average of $2.98 and a 200-day moving average of $3.02.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IPHA. Optiver Holding B.V. raised its position in Innate Pharma by 112.3% during the first quarter. Optiver Holding B.V. now owns 224,097 shares of the company’s stock valued at $636,000 after purchasing an additional 118,563 shares in the last quarter. BlackRock Inc. raised its position in 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 purchasing an additional 108,335 shares in the last quarter. Millennium Management LLC raised its position in Innate Pharma by 389.8% during 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 in the last quarter. Exchange Traded Concepts LLC acquired a new position in Innate Pharma during the second quarter valued at approximately $133,000. Finally, Jane Street Group LLC raised its position in Innate Pharma by 156.3% during 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 in the last quarter. 0.29% of the stock is currently owned by institutional investors and hedge funds.

Innate Pharma Company Profile

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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 s├ęzary 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.

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