Harpoon Therapeutics (NASDAQ:HARP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Harpoon Therapeutics (NASDAQ:HARP) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Harpoon Therapeutics Inc. is a clinical-stage immunotherapy company developing a novel class of T cell engagers which harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. Using its proprietary Tri-specific T cell Activating Construct(TM) platform, they are developing a pipeline of novel T cell engagers, focused on the treatment of solid tumors and hematologic malignancies. Harpoon Therapeutics Inc. is based in San Francisco, United States. “

Shares of HARP opened at $13.83 on Wednesday. Harpoon Therapeutics has a 12-month low of $9.07 and a 12-month high of $17.85. The business’s fifty day moving average is $14.36 and its 200 day moving average is $12.80. The company has a quick ratio of 9.47, a current ratio of 9.47 and a debt-to-equity ratio of 0.12. The stock has a market cap of $340.95 million and a P/E ratio of -0.54.

Harpoon Therapeutics (NASDAQ:HARP) last issued its earnings results on Monday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.13. The firm had revenue of $1.06 million during the quarter, compared to the consensus estimate of $1.22 million. On average, analysts expect that Harpoon Therapeutics will post -2.48 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN bought a new position in shares of Harpoon Therapeutics in the 2nd quarter worth $94,000. Northern Trust Corp lifted its holdings in shares of Harpoon Therapeutics by 9.4% in the 2nd quarter. Northern Trust Corp now owns 35,745 shares of the company’s stock worth $465,000 after purchasing an additional 3,072 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Harpoon Therapeutics by 24.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 37,399 shares of the company’s stock worth $487,000 after purchasing an additional 7,232 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Harpoon Therapeutics by 183.3% in the 2nd quarter. Vanguard Group Inc. now owns 234,377 shares of the company’s stock worth $3,047,000 after purchasing an additional 151,644 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Harpoon Therapeutics by 216.8% in the 2nd quarter. BlackRock Inc. now owns 294,047 shares of the company’s stock worth $3,824,000 after purchasing an additional 201,237 shares in the last quarter. Institutional investors own 56.44% of the company’s stock.

About Harpoon Therapeutics

Harpoon Therapeutics, Inc, a clinical-stage immunotherapy company, engages in the development of a 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 in the United States. The company's lead TriTAC product candidate is HPN424 that is in Phase I clinical trial for the treatment of metastatic castration-resistant prostate cancer.

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