Innate Pharma (NASDAQ:IPHA) Stock Price Down 0.5% – Here’s Why

Innate Pharma S.A. Sponsored ADR (NASDAQ:IPHA)’s share price fell 0.5% during trading on Wednesday. The stock traded as low as $1.52 and last traded at $1.57. Approximately 18,806 shares changed hands during trading, a decline of 50% from the average daily volume of 37,397 shares. The stock had previously closed at $1.5780.

Analysts Set New Price Targets

A number of research firms have issued reports on IPHA. Citigroup raised shares of Innate Pharma from a “buy” rating to an “outperform” rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Innate Pharma in a research note on Tuesday, September 22nd. UBS Group reissued a “buy” rating on shares of Innate Pharma in a research note on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and issued a $9.00 price target on shares of Innate Pharma in a research note on Thursday, September 17th. Finally, HC Wainwright reissued a “buy” rating on shares of Innate Pharma in a report on Monday, September 21st. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Innate Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Innate Pharma Trading Down 0.5%

The business has a 50-day moving average price of $1.86 and a 200-day moving average price of $1.77.

About Innate Pharma

Innate Pharma SA is a clinical-stage biotechnology company focused on developing immunotherapies for cancer. The company’s research is centered on the innate immune system, including natural killer cells and other immune cells that can recognize and attack tumors. Its product candidates include monoclonal antibodies, immune-cell engagers and other treatments designed to stimulate or direct immune responses against cancer.

Innate Pharma’s pipeline has included lacutamab, an antibody targeting KIR3DL2 for the treatment of certain T-cell lymphomas, including cutaneous T-cell lymphoma.