Hookipa Pharma (NASDAQ:HOOK) Stock Rating Lowered by Royal Bank of Canada

Hookipa Pharma (NASDAQ:HOOK) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $2.00 price target on the stock, down from their previous price target of $48.00. Royal Bank of Canada’s target price would indicate a potential downside of 6.54% from the company’s previous close.

Separately, JMP Securities reduced their target price on shares of Hookipa Pharma from $24.00 to $7.00 and set a “market outperform” rating on the stock in a report on Thursday, November 21st.

Hookipa Pharma Stock Performance

NASDAQ HOOK opened at $2.14 on Friday. The firm has a market capitalization of $25.80 million, a price-to-earnings ratio of -0.58 and a beta of 0.71. Hookipa Pharma has a one year low of $1.88 and a one year high of $11.30. The company’s 50 day moving average price is $3.10 and its 200 day moving average price is $4.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ikarian Capital LLC purchased a new stake in Hookipa Pharma during the 3rd quarter worth $228,000. Renaissance Technologies LLC boosted its position in Hookipa Pharma by 38.4% in the 2nd 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 during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Hookipa Pharma by 12.3% during the second quarter. Acadian Asset Management LLC now owns 991,106 shares of the company’s stock valued at $586,000 after acquiring an additional 108,844 shares in the last quarter. 63.88% of the stock is currently owned by hedge funds and other institutional investors.

Hookipa Pharma Company Profile

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.