Harpoon Therapeutics (NASDAQ:HARP) Price Target Lowered to $33.00 at Citigroup

Harpoon Therapeutics (NASDAQ:HARP) had its price objective reduced by Citigroup from $60.00 to $33.00 in a report issued on Monday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on HARP. HC Wainwright reiterated a buy rating and set a $45.00 price objective on shares of Harpoon Therapeutics in a research note on Thursday, August 10th. Canaccord Genuity Group lowered their price objective on shares of Harpoon Therapeutics from $80.00 to $40.00 and set a buy rating for the company in a research note on Thursday, September 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Harpoon Therapeutics currently has an average rating of Moderate Buy and a consensus target price of $32.17.

Harpoon Therapeutics Trading Down 5.7 %

NASDAQ HARP opened at $4.76 on Monday. The firm’s fifty day simple moving average is $7.98 and its two-hundred day simple moving average is $7.36. Harpoon Therapeutics has a 12-month low of $4.74 and a 12-month high of $33.55. The firm has a market capitalization of $18.47 million, a P/E ratio of -0.40 and a beta of 1.48.

Harpoon Therapeutics (NASDAQ:HARP) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of ($4.30) by $4.60. Harpoon Therapeutics had a negative net margin of 86.73% and a negative return on equity of 620.00%. The business had revenue of $20.22 million during the quarter, compared to the consensus estimate of $9.19 million. As a group, sell-side analysts predict that Harpoon Therapeutics will post -7.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HARP. Millennium Management LLC raised 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 acquiring an additional 562,053 shares during the period. Levin Capital Strategies L.P. acquired a new position in shares of Harpoon Therapeutics in the fourth quarter worth about $239,000. Renaissance Technologies LLC raised its position in shares of Harpoon Therapeutics by 51.6% in the third quarter. Renaissance Technologies LLC now owns 481,041 shares of the company’s stock worth $467,000 after acquiring an additional 163,680 shares during the period. BlackRock Inc. raised its position in shares of Harpoon Therapeutics by 5.6% in the first quarter. BlackRock Inc. now owns 1,809,686 shares of the company’s stock worth $8,994,000 after acquiring an additional 95,355 shares during the period. Finally, Bailard Inc. acquired a new position in shares of Harpoon Therapeutics in the first quarter worth about $47,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

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.