Jasper Therapeutics (NASDAQ:JSPR) Price Target Cut to $7.00 by Analysts at BTIG Research

Jasper Therapeutics (NASDAQ:JSPR) had its target price lowered by BTIG Research from $20.00 to $7.00 in a report released on Monday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other research firms have also recently weighed in on JSPR. Evercore ISI lowered their price objective on Jasper Therapeutics from $50.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. JMP Securities decreased their price target on Jasper Therapeutics from $70.00 to $12.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 8th. HC Wainwright decreased their price target on Jasper Therapeutics from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, July 7th. Cantor Fitzgerald cut Jasper Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, July 7th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Jasper Therapeutics in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.63.

Jasper Therapeutics Price Performance

JSPR stock opened at $2.54 on Monday. The stock has a market capitalization of $41.19 million, a price-to-earnings ratio of -0.42 and a beta of 2.77. The business’s fifty day moving average price is $2.86 and its two-hundred day moving average price is $4.18. Jasper Therapeutics has a fifty-two week low of $2.27 and a fifty-two week high of $26.05.

Jasper Therapeutics (NASDAQ:JSPR) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($1.74) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.54). Research analysts expect that Jasper Therapeutics will post -4.47 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JSPR. T. Rowe Price Investment Management Inc. grew its position in Jasper Therapeutics by 755.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 702,757 shares of the company’s stock valued at $3,022,000 after acquiring an additional 620,592 shares during the last quarter. Jane Street Group LLC bought a new position in Jasper Therapeutics in the second quarter valued at about $738,000. Nuveen LLC bought a new position in Jasper Therapeutics in the first quarter valued at about $440,000. Bank of Montreal Can grew its position in Jasper Therapeutics by 120.4% in the second quarter. Bank of Montreal Can now owns 158,133 shares of the company’s stock valued at $878,000 after acquiring an additional 86,393 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Jasper Therapeutics by 1,074.7% in the second quarter. JPMorgan Chase & Co. now owns 65,088 shares of the company’s stock valued at $361,000 after acquiring an additional 59,547 shares during the last quarter. Institutional investors own 79.85% of the company’s stock.

About Jasper Therapeutics

Jasper Therapeutics, Inc, a clinical-stage biotechnology company, develops therapeutic agents for hematopoietic stem cell transplantation and gene therapies. The company's lead product candidate is briquilimab, which is in clinical development as a novel therapeutic antibody that clears hematopoietic stem cells from bone marrow in patients prior to undergoing allogeneic stem cell therapy or stem cell gene therapy.