Royal Bank of Canada Cuts Hookipa Pharma (NASDAQ:HOOK) Price Target to $48.00

Hookipa Pharma (NASDAQ:HOOK) had its price target cut by Royal Bank of Canada from $50.00 to $48.00 in a report released on Friday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Separately, JMP Securities increased 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 note on Friday, August 9th.

Hookipa Pharma Stock Performance

Shares of HOOK stock opened at $3.00 on Friday. The company has a market cap of $36.18 million, a P/E ratio of -0.81 and a beta of 0.84. Hookipa Pharma has a fifty-two week low of $2.85 and a fifty-two week high of $11.30. The stock has a 50 day simple moving average of $4.09 and a two-hundred day simple moving average of $5.72.

Institutional Investors Weigh In On Hookipa Pharma

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of Hookipa Pharma by 85.8% in the 1st quarter. Acadian Asset Management LLC now owns 882,262 shares of the company’s stock worth $627,000 after purchasing an additional 407,532 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Hookipa Pharma by 38.4% in the second quarter. Renaissance Technologies LLC now owns 302,246 shares of the company’s stock valued at $179,000 after buying an additional 83,800 shares in the last quarter. Ikarian Capital LLC acquired a new position in shares of Hookipa Pharma during the third quarter valued at about $228,000. Finally, Virtu Financial LLC bought a new stake in shares of Hookipa Pharma during the first quarter worth about $31,000. Institutional investors and hedge funds own 63.88% of the company’s stock.

About Hookipa Pharma

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.