Harpoon Therapeutics (NASDAQ:HARP) Stock Rating Lowered by Zacks Investment Research

Harpoon Therapeutics (NASDAQ:HARP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

Several other analysts also recently issued reports on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $26.00 price objective on shares of Harpoon Therapeutics in a report on Friday, November 22nd. Roth Capital started coverage on shares of Harpoon Therapeutics in a report on Wednesday, November 13th. They issued a “buy” rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Harpoon Therapeutics presently has a consensus rating of “Buy” and an average price target of $23.83.

Shares of HARP stock opened at $17.78 on Wednesday. The stock’s 50 day simple moving average is $14.36 and its 200 day simple moving average is $13.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.37 and a current ratio of 7.37. Harpoon Therapeutics has a twelve month low of $9.07 and a twelve month high of $19.99. The company has a market capitalization of $419.37 million and a price-to-earnings ratio of -0.69.

Harpoon Therapeutics (NASDAQ:HARP) last posted its earnings results on Wednesday, November 6th. The company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.09). The company had revenue of $1.42 million during the quarter, compared to analyst estimates of $1.09 million. Harpoon Therapeutics had a negative return on equity of 86.88% and a negative net margin of 1,107.97%. On average, analysts forecast that Harpoon Therapeutics will post -1.54 EPS for the current fiscal year.

In related news, insider Natalie Sacks sold 5,826 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $13.74, for a total transaction of $80,049.24. Insiders have sold a total of 48,228 shares of company stock valued at $668,049 in the last three months.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EcoR1 Capital LLC increased its position in Harpoon Therapeutics by 0.9% in the 2nd quarter. EcoR1 Capital LLC now owns 1,348,423 shares of the company’s stock worth $17,529,000 after buying an additional 12,000 shares during the period. BlackRock Inc. boosted its position in shares of Harpoon Therapeutics by 216.8% in the second quarter. BlackRock Inc. now owns 294,047 shares of the company’s stock valued at $3,824,000 after acquiring an additional 201,237 shares during the period. Vanguard Group Inc. grew its stake in shares of Harpoon Therapeutics by 183.3% in the second quarter. Vanguard Group Inc. now owns 234,377 shares of the company’s stock worth $3,047,000 after acquiring an additional 151,644 shares during the last quarter. State Street Corp boosted its holdings in Harpoon Therapeutics by 28.9% in the 3rd quarter. State Street Corp now owns 107,227 shares of the company’s stock valued at $1,465,000 after purchasing an additional 24,064 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Harpoon Therapeutics by 24.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 37,399 shares of the company’s stock valued at $487,000 after purchasing an additional 7,232 shares during the period. 58.15% of the stock is currently owned by institutional investors.

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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