Royal Bank of Canada Has Lowered Expectations for Hookipa Pharma (NASDAQ:HOOK) Stock Price

Hookipa Pharma (NASDAQ:HOOK) had its target price cut by Royal Bank of Canada from $50.00 to $48.00 in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the stock.

Separately, JMP Securities upped their price target on Hookipa Pharma from $23.00 to $24.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th.

Hookipa Pharma Stock Performance

Shares of NASDAQ HOOK opened at $3.00 on Friday. The stock has a fifty day moving average of $4.09 and a 200-day moving average of $5.74. The stock has a market cap of $36.18 million, a PE ratio of -0.69 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.

Institutional Trading of Hookipa Pharma

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