Hookipa Pharma (NASDAQ:HOOK) Price Target Cut to $48.00 by Analysts at Royal Bank of Canada

Hookipa Pharma (NASDAQ:HOOK) had its target price reduced by Royal Bank of Canada from $50.00 to $48.00 in a report published on Friday, MarketBeat reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, JMP Securities raised their target price on shares of Hookipa Pharma from $23.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th.

Hookipa Pharma Stock Performance

Shares of HOOK stock traded down $0.14 during mid-day trading on Friday, hitting $3.00. 95,565 shares of the stock were exchanged, compared to its average volume of 57,184. The stock’s fifty day simple moving average is $4.09 and its two-hundred day simple moving average is $5.74. Hookipa Pharma has a 12-month low of $2.85 and a 12-month high of $11.30. The stock has a market capitalization of $36.18 million, a price-to-earnings ratio of -0.69 and a beta of 0.84.

Hedge Funds Weigh In On Hookipa Pharma

A number of large investors have recently modified their holdings of the business. Ikarian Capital LLC acquired a new position in Hookipa Pharma during the third quarter worth $228,000. Renaissance Technologies LLC grew its stake in shares of Hookipa Pharma by 38.4% during the 2nd quarter. Renaissance Technologies LLC now owns 302,246 shares of the company’s stock worth $179,000 after purchasing an additional 83,800 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Hookipa Pharma by 12.3% in the 2nd quarter. Acadian Asset Management LLC now owns 991,106 shares of the company’s stock valued at $586,000 after purchasing an additional 108,844 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Hookipa Pharma in the first quarter valued at about $31,000. 63.88% of the stock is owned by hedge funds and other institutional investors.

Hookipa Pharma Company Profile

HOOKIPA Pharma Inc, a clinical-stage biopharmaceutical company, develops immunotherapeutics targeting infectious diseases and cancers based on its proprietary arenavirus platform. The company's lead infectious disease product candidate is HB-101, which is in a randomized double-blinded Phase 2 clinical trial in cytomegalovirus-negative patients awaiting kidney transplantation from cytomegalovirus-positive donors.