Harpoon Therapeutics (NASDAQ:HARP) Stock Price Up 19.9%

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Harpoon Therapeutics Inc (NASDAQ:HARP) rose 19.9% on Wednesday . The stock traded as high as $13.88 and last traded at $13.67, approximately 186,751 shares traded hands during mid-day trading. An increase of 394% from the average daily volume of 37,799 shares. The stock had previously closed at $11.40.

HARP has been the subject of several research analyst reports. Zacks Investment Research raised Harpoon Therapeutics from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, August 9th. Citigroup reissued a “buy” rating and set a $23.00 price target on shares of Harpoon Therapeutics in a research report on Friday, May 24th. Six investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $22.00.

The company has a debt-to-equity ratio of 0.12, a quick ratio of 9.47 and a current ratio of 9.47. The stock has a 50-day simple moving average of $13.69. The company has a market capitalization of $280.04 million and a P/E ratio of -0.52.

Harpoon Therapeutics (NASDAQ:HARP) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.13. The company had revenue of $1.06 million for the quarter, compared to analysts’ expectations of $1.22 million. As a group, analysts forecast that Harpoon Therapeutics Inc will post -2.48 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in HARP. Fosun International Ltd purchased a new stake in shares of Harpoon Therapeutics in the first quarter valued at $3,062,000. MPM Asset Management LLC acquired a new position in Harpoon Therapeutics in the first quarter valued at $39,796,000. New Leaf Venture Partners L.L.C. acquired a new position in Harpoon Therapeutics in the first quarter valued at $27,666,000. Sphera Funds Management LTD. acquired a new position in Harpoon Therapeutics in the first quarter valued at $3,133,000. Finally, Wells Fargo & Company MN acquired a new position in Harpoon Therapeutics in the second quarter valued at $94,000. 55.78% of the stock is owned by institutional investors.

About Harpoon Therapeutics (NASDAQ:HARP)

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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