Harpoon Therapeutics, Inc. (NASDAQ:HARP – Get Free Report) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 473,300 shares, a growth of 10.4% from the June 15th total of 428,600 shares. Based on an average daily trading volume, of 204,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.9% of the shares of the company are short sold.
Wall Street Analyst Weigh In
HARP has been the topic of several recent analyst reports. HC Wainwright reduced their target price on shares of Harpoon Therapeutics from $7.00 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, March 29th. 500.com restated a “reiterates” rating on shares of Harpoon Therapeutics in a research report on Monday, May 15th. Finally, Canaccord Genuity Group cut their target price on shares of Harpoon Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, April 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Harpoon Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $4.71.
Institutional Investors Weigh In On Harpoon Therapeutics
Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in shares of Harpoon Therapeutics by 3,145.9% in the second quarter. Millennium Management LLC now owns 579,919 shares of the company’s stock worth $1,108,000 after purchasing an additional 562,053 shares during the period. Levin Capital Strategies L.P. bought a new stake in shares of Harpoon Therapeutics during the fourth quarter valued at approximately $239,000. Renaissance Technologies LLC increased its holdings in shares of Harpoon Therapeutics by 51.6% during the third quarter. Renaissance Technologies LLC now owns 481,041 shares of the company’s stock valued at $467,000 after acquiring an additional 163,680 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Harpoon Therapeutics by 5.6% during the first quarter. BlackRock Inc. now owns 1,809,686 shares of the company’s stock valued at $8,994,000 after acquiring an additional 95,355 shares in the last quarter. Finally, Bailard Inc. bought a new stake in Harpoon Therapeutics during the first quarter worth $47,000. Institutional investors and hedge funds own 65.52% of the company’s stock.
Harpoon Therapeutics Stock Performance
Harpoon Therapeutics (NASDAQ:HARP – Get Free Report) last released its quarterly earnings results on Thursday, May 11th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.11. The firm had revenue of $8.58 million during the quarter, compared to the consensus estimate of $8.81 million. Harpoon Therapeutics had a negative return on equity of 473.13% and a negative net margin of 169.83%. On average, analysts predict that Harpoon Therapeutics will post -1.35 EPS for the current year.
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 develops tri-specific T cell activating construct (TriTAC) product candidate, including HPN328, which is in Phase I/II clinical trials for the treatment of small cell lung cancer and other Delta-like canonical Notch ligand 3-expressing tumors; and HPN217 that is in Phase I clinical trials for the treatment of multiple myeloma.
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