Oppenheimer Reaffirms “Outperform” Rating for Harpoon Therapeutics (NASDAQ:HARP)

Oppenheimer reissued their outperform rating on shares of Harpoon Therapeutics (NASDAQ:HARP) in a research note issued to investors on Tuesday, Benzinga reports.

Several other equities research analysts have also recently commented on HARP. Citigroup reissued a neutral rating and issued a $23.00 price target (up previously from $13.00) on shares of Harpoon Therapeutics in a research note on Monday, February 26th. TD Cowen reissued a market perform rating on shares of Harpoon Therapeutics in a research note on Tuesday, January 16th. Leerink Partnrs cut Harpoon Therapeutics from an outperform rating to a market perform rating in a research report on Monday, January 8th. Finally, HC Wainwright cut Harpoon Therapeutics from a buy rating to a neutral rating and upped their target price for the stock from $12.00 to $23.00 in a research report on Monday, January 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Harpoon Therapeutics has an average rating of Hold and an average target price of $27.25.

Harpoon Therapeutics Price Performance

Shares of HARP opened at $23.01 on Tuesday. The company has a market capitalization of $389.61 million, a price-to-earnings ratio of -2.63 and a beta of 2.11. Harpoon Therapeutics has a fifty-two week low of $3.11 and a fifty-two week high of $23.21. The business’s 50-day moving average is $22.71 and its 200-day moving average is $13.78.

Insiders Place Their Bets

In other Harpoon Therapeutics news, major shareholder Merck & Co., Inc. acquired 21,397,205 shares of Harpoon Therapeutics stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $23.00 per share, with a total value of $492,135,715.00. Following the completion of the transaction, the insider now owns 1,000 shares of the company’s stock, valued at $23,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Harpoon Therapeutics

Several hedge funds have recently modified their holdings of HARP. BlackRock Inc. boosted 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 valued at $8,994,000 after acquiring an additional 95,355 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Harpoon Therapeutics by 50.3% in the first quarter. Dimensional Fund Advisors LP now owns 103,267 shares of the company’s stock valued at $513,000 after acquiring an additional 34,578 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Harpoon Therapeutics in the first quarter valued at $66,000. Vanguard Group Inc. raised its stake in shares of Harpoon Therapeutics by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,288,202 shares of the company’s stock valued at $6,402,000 after purchasing an additional 34,392 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Harpoon Therapeutics by 309.3% in the first quarter. Renaissance Technologies LLC now owns 211,200 shares of the company’s stock valued at $1,050,000 after purchasing an additional 159,600 shares in the last quarter. 74.01% of the stock is owned by institutional investors.

Harpoon Therapeutics Company Profile

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.