Harpoon Therapeutics, Inc. (NASDAQ:HARP) Sees Large Decline in Short Interest

Posted by Stanley Muller on May 26th, 2023

Harpoon Therapeutics, Inc. (NASDAQ:HARP – Get Rating) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 417,700 shares, a decrease of 45.1% from the April 30th total of 761,200 shares. Based on an average daily volume of 226,400 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.7% of the shares of the company are sold short.

Analyst Ratings Changes

HARP has been the subject of a number of research reports. 500.com restated a “reiterates” rating on shares of Harpoon Therapeutics in a research report on Monday, May 15th. Canaccord Genuity Group dropped their price target on Harpoon Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, April 3rd. Finally, HC Wainwright lowered their price objective on Harpoon Therapeutics from $7.00 to $4.50 and set a “buy” rating on the stock in a research report on Wednesday, March 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Harpoon Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $4.71.

Harpoon Therapeutics Stock Down 9.6 %

HARP traded down $0.07 during midday trading on Friday, hitting $0.64. 127,502 shares of the company were exchanged, compared to its average volume of 352,171. The firm’s 50 day moving average price is $0.68 and its 200-day moving average price is $0.77. Harpoon Therapeutics has a 1-year low of $0.54 and a 1-year high of $3.35. The firm has a market capitalization of $20.67 million, a P/E ratio of -0.41 and a beta of 1.56.

Harpoon Therapeutics (NASDAQ:HARP – Get Rating) last issued its quarterly earnings data on Monday, March 27th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.08). Harpoon Therapeutics had a negative return on equity of 473.13% and a negative net margin of 169.83%. The company had revenue of $4.09 million for the quarter, compared to the consensus estimate of $11.06 million. On average, sell-side analysts predict that Harpoon Therapeutics will post -1.13 earnings per share for the current fiscal year.

Insider Transactions at Harpoon Therapeutics

In other Harpoon Therapeutics news, Director Ronald Hunt purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, March 23rd. The stock was bought at an average price of $1,000.00 per share, with a total value of $10,000,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $10,000,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP boosted its holdings in shares of Harpoon Therapeutics by 168.1% during the first quarter. Susquehanna International Group LLP now owns 53,949 shares of the company’s stock worth $40,000 after purchasing an additional 33,830 shares during the period. Two Sigma Investments LP purchased a new stake in Harpoon Therapeutics during the 1st quarter valued at $42,000. Prudential Financial Inc. purchased a new stake in Harpoon Therapeutics during the 1st quarter valued at $32,000. Bailard Inc. purchased a new stake in Harpoon Therapeutics during the 1st quarter valued at $47,000. Finally, CM Wealth Advisors LLC bought a new stake in shares of Harpoon Therapeutics during the 1st quarter valued at $29,000. Institutional investors own 65.52% of the company’s stock.

Harpoon Therapeutics Company Profile

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Harpoon Therapeutics, Inc is a clinical-stage immunotherapy company, which engages in the development of antibodies. It focuses on the research of 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. The firm utilizes its proprietary Tri-specific T cell Activating Construct platform to create a pipeline of novel TriTACs for the treatment of solid tumors and hematologic malignancies.