Harpoon Therapeutics (NASDAQ:HARP) Upgraded to “Buy” at Citigroup

Harpoon Therapeutics (NASDAQ:HARP) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday, The Fly reports.

Several other research firms also recently weighed in on HARP. Wedbush downgraded Harpoon Therapeutics from an “outperform” rating to a “neutral” rating in a report on Monday, June 7th. downgraded Harpoon Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $16.00 in a report on Tuesday, June 8th. SVB Leerink cut their price objective on Harpoon Therapeutics from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, August 6th. Piper Sandler reissued an “overweight” rating and set a $30.00 price objective (down previously from $35.00) on shares of Harpoon Therapeutics in a report on Friday, August 6th. Finally, Robert W. Baird reissued a “buy” rating and set a $35.00 price objective on shares of Harpoon Therapeutics in a report on Sunday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $28.57.

Harpoon Therapeutics stock traded up $0.05 during mid-day trading on Monday, reaching $8.01. 349,335 shares of the company were exchanged, compared to its average volume of 371,870. The company has a fifty day simple moving average of $9.50 and a 200-day simple moving average of $15.33. Harpoon Therapeutics has a 12 month low of $7.92 and a 12 month high of $25.24. The firm has a market cap of $261.69 million, a PE ratio of -2.32 and a beta of 0.79.

Harpoon Therapeutics (NASDAQ:HARP) last posted its quarterly earnings data on Thursday, August 5th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.09). The company had revenue of $5.84 million for the quarter, compared to the consensus estimate of $6.61 million. Harpoon Therapeutics had a negative return on equity of 69.42% and a negative net margin of 394.17%. As a group, research analysts expect that Harpoon Therapeutics will post -1.95 EPS for the current year.

In other news, insider Holger Wesche sold 10,000 shares of Harpoon Therapeutics stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now directly owns 62,852 shares of the company’s stock, valued at approximately $879,928. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Georgia Erbez bought 10,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 22nd. The stock was purchased at an average cost of $8.10 per share, with a total value of $83,430.00. The disclosure for this purchase can be found here. Company insiders own 4.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Group One Trading L.P. bought a new stake in Harpoon Therapeutics during the 1st quarter worth approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Harpoon Therapeutics in the 1st quarter worth approximately $50,000. American International Group Inc. boosted its stake in shares of Harpoon Therapeutics by 26.5% in the 1st quarter. American International Group Inc. now owns 7,896 shares of the company’s stock worth $165,000 after buying an additional 1,655 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Harpoon Therapeutics by 18,144.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,217 shares of the company’s stock worth $214,000 after buying an additional 10,161 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Harpoon Therapeutics in the 1st quarter worth approximately $216,000. 87.78% of the stock is owned by hedge funds and other institutional investors.

About Harpoon Therapeutics

Harpoon Therapeutics, Inc is a clinical-stage immunotherapy company, which engages in the development of antibodies. It focuses on the research of novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. The firm utilizes its proprietary Tri-specific T cell Activating Construct platform to create a pipeline of novel TriTACs for the treatment of solid tumors and hematologic malignancies.

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