Harpoon Therapeutics Inc (NASDAQ:HARP) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 159,800 shares, a drop of 11.2% from the July 31st total of 180,000 shares. Based on an average daily volume of 29,100 shares, the days-to-cover ratio is currently 5.5 days. Currently, 1.3% of the shares of the stock are sold short.
Several hedge funds have recently modified their holdings of HARP. Fosun International Ltd bought a new stake in shares of Harpoon Therapeutics during the 1st quarter worth $3,062,000. MPM Asset Management LLC bought a new stake in shares of Harpoon Therapeutics during the 1st quarter worth $39,796,000. New Leaf Venture Partners L.L.C. bought a new stake in shares of Harpoon Therapeutics during the 1st quarter worth $27,666,000. Sphera Funds Management LTD. bought a new stake in shares of Harpoon Therapeutics during the 1st quarter worth $3,133,000. Finally, Wells Fargo & Company MN bought a new stake in shares of Harpoon Therapeutics during the 2nd quarter worth $94,000. Institutional investors own 56.44% of the company’s stock.
Shares of HARP stock traded down $1.19 during mid-day trading on Friday, hitting $16.28. 152,100 shares of the stock traded hands, compared to its average volume of 41,151. Harpoon Therapeutics has a twelve month low of $9.07 and a twelve month high of $17.85. The firm has a market cap of $358.89 million and a price-to-earnings ratio of -0.63. The company’s 50-day simple moving average is $13.66 and its 200-day simple moving average is $12.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 9.47 and a current ratio of 9.47.
Harpoon Therapeutics (NASDAQ:HARP) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.13. The firm had revenue of $1.06 million for the quarter, compared to analyst estimates of $1.22 million. Analysts forecast that Harpoon Therapeutics will post -2.48 earnings per share for the current year.
Several equities analysts have recently issued reports on the company. Citigroup reiterated a “buy” rating and set a $23.00 price target on shares of Harpoon Therapeutics in a research report on Friday, May 24th. Zacks Investment Research upgraded Harpoon Therapeutics from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, August 9th. Six analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $22.00.
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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