Jasper Therapeutics (NASDAQ:JSPR) Receives New Coverage from Analysts at Royal Bank of Canada

Analysts at Royal Bank of Canada began coverage on shares of Jasper Therapeutics (NASDAQ:JSPR) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $70.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 142.89% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on JSPR. Oppenheimer restated an “outperform” rating and set a $80.00 price target on shares of Jasper Therapeutics in a research report on Thursday, March 7th. TD Cowen started coverage on Jasper Therapeutics in a research report on Monday, March 18th. They set an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $64.00.

Jasper Therapeutics Price Performance

JSPR opened at $28.82 on Thursday. The company has a fifty day moving average price of $19.78 and a 200-day moving average price of $11.44. The firm has a market capitalization of $434.03 million, a P/E ratio of -4.65 and a beta of 2.18. Jasper Therapeutics has a one year low of $4.00 and a one year high of $30.28.

Jasper Therapeutics (NASDAQ:JSPR) last released its quarterly earnings results on Monday, March 4th. The company reported ($1.50) EPS for the quarter, topping analysts’ consensus estimates of ($1.65) by $0.15. On average, analysts expect that Jasper Therapeutics will post -5 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Velan Capital Investment Manag acquired 350,000 shares of Jasper Therapeutics stock in a transaction dated Thursday, February 8th. The shares were purchased at an average cost of $12.95 per share, with a total value of $4,532,500.00. Following the completion of the purchase, the insider now owns 1,188,500 shares of the company’s stock, valued at $15,391,075. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in Jasper Therapeutics by 128.7% during the 4th quarter. Renaissance Technologies LLC now owns 65,400 shares of the company’s stock valued at $32,000 after buying an additional 36,800 shares during the period. Gries Financial LLC bought a new position in shares of Jasper Therapeutics during the second quarter valued at about $33,000. Ieq Capital LLC bought a new position in shares of Jasper Therapeutics during the fourth quarter valued at about $43,000. Summit Trail Advisors LLC bought a new position in shares of Jasper Therapeutics during the third quarter valued at about $46,000. Finally, State Street Corp raised its stake in shares of Jasper Therapeutics by 51.2% during the second quarter. State Street Corp now owns 32,884 shares of the company’s stock valued at $63,000 after acquiring an additional 11,132 shares during the last quarter. 79.85% of the stock is owned by hedge funds and other institutional investors.

Jasper Therapeutics Company Profile

Jasper Therapeutics, Inc, a clinical-stage biotechnology company, develops therapeutic agents for hematopoietic stem cell transplantation and gene therapies. It focuses on the development and commercialization of therapeutic agents for diseases, such as chronic spontaneous urticaria, lower to intermediate risk myelodysplastic syndrome, and novel conditioning regimens for stem cell transplantation and ex-vivo gene therapy, a technique in which genetic manipulation of cells is performed outside of the body prior to transplantation.