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

Hookipa Pharma (NASDAQ:HOOK) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Friday, MarketBeat Ratings reports. They presently have a $2.00 price target on the stock, down from their prior price target of $48.00. Royal Bank of Canada’s target price suggests a potential downside of 0.99% from the stock’s current price.

Separately, JMP Securities reduced their price target on 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 $2.02 on Friday. Hookipa Pharma has a one year low of $1.88 and a one year high of $11.30. The stock has a market cap of $24.35 million, a PE ratio of -0.54 and a beta of 0.71. The stock has a 50 day moving average price of $3.06 and a 200 day moving average price of $4.67.

Institutional Investors Weigh In On Hookipa Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its holdings in shares of Hookipa Pharma by 12.3% during the 2nd quarter. Acadian Asset Management LLC now owns 991,106 shares of the company’s stock worth $586,000 after purchasing an additional 108,844 shares during the period. Renaissance Technologies LLC boosted its stake in Hookipa Pharma by 38.4% during the second quarter. Renaissance Technologies LLC now owns 302,246 shares of the company’s stock worth $179,000 after buying an additional 83,800 shares during the period. Finally, Ikarian Capital LLC acquired a new stake in shares of Hookipa Pharma during the third quarter valued at about $228,000. 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.