Royal Bank of Canada Has Lowered Expectations for Jasper Therapeutics (NASDAQ:JSPR) Stock Price

Jasper Therapeutics (NASDAQ:JSPR) had its target price cut by Royal Bank of Canada from $68.00 to $48.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock.

A number of other research firms have also weighed in on JSPR. JMP Securities restated a “market outperform” rating and issued a $70.00 target price on shares of Jasper Therapeutics in a report on Monday. BMO Capital Markets started coverage on Jasper Therapeutics in a research note on Friday, December 6th. They issued an “outperform” rating and a $63.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $65.00 target price on shares of Jasper Therapeutics in a research report on Thursday, October 24th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $70.88.

Jasper Therapeutics Stock Down 60.5 %

JSPR traded down $10.72 during trading on Thursday, hitting $6.99. 6,600,423 shares of the company’s stock were exchanged, compared to its average volume of 1,690,942. Jasper Therapeutics has a fifty-two week low of $6.61 and a fifty-two week high of $31.01. The stock has a market cap of $104.86 million, a P/E ratio of -1.47 and a beta of 2.18. The business’s 50 day moving average is $21.66 and its two-hundred day moving average is $20.37.

Hedge Funds Weigh In On Jasper Therapeutics

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in Jasper Therapeutics by 208.6% in the third quarter. BNP Paribas Financial Markets now owns 2,512 shares of the company’s stock worth $47,000 after purchasing an additional 1,698 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of Jasper Therapeutics during the 3rd quarter worth $59,000. MetLife Investment Management LLC boosted its holdings in shares of Jasper Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 6,874 shares of the company’s stock worth $129,000 after buying an additional 3,873 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Jasper Therapeutics in the 2nd quarter worth about $300,000. Finally, Jane Street Group LLC bought a new position in Jasper Therapeutics during the third quarter valued at about $251,000. 79.85% of the stock is owned by institutional investors.

About Jasper Therapeutics

Jasper Therapeutics, Inc, a clinical-stage biotechnology company, develops therapeutic agents for hematopoietic stem cell transplantation and gene therapies. The company's lead product candidate is briquilimab, which is in clinical development as a novel therapeutic antibody that clears hematopoietic stem cells from bone marrow in patients prior to undergoing allogeneic stem cell therapy or stem cell gene therapy.