As of Wednesday, Harpoon Therapeutics Inc.’s (NASDAQ:HARP) stock closed at $1.04, down from $1.18 the previous day. While Harpoon Therapeutics Inc. has underperformed by -11.86%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, HARP fell by -87.57%, with highs and lows ranging from $9.10 to $1.16, whereas the simple moving average fell by -71.53% in the last 200 days.
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On July 06, 2022, Canaccord Genuity started tracking Harpoon Therapeutics Inc. (NASDAQ: HARP) recommending Buy. A report published by Citigroup on September 28, 2021, Upgraded its rating to ‘Buy’ for HARP. Citigroup also Downgraded HARP shares as ‘Neutral’, setting a target price of $16 on the company’s shares in a report dated June 08, 2021. Cantor Fitzgerald initiated its ‘Overweight’ rating for HARP, as published in its report on May 28, 2021. Piper Sandler’s report from May 10, 2021 suggests a price prediction of $35 for HARP shares, giving the stock a ‘Overweight’ rating. H.C. Wainwright also rated the stock as ‘Buy’.
Analysis of Harpoon Therapeutics Inc. (HARP)
Further, the quarter-over-quarter increase in sales is 43.10%, showing a positive trend in the upcoming months.
One of the most important indicators of Harpoon Therapeutics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -149.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and HARP is recording 168.05K average volume. On a monthly basis, the volatility of the stock is set at 7.55%, whereas on a weekly basis, it is put at 13.88%, with a loss of -37.35% over the past seven days. Furthermore, long-term investors anticipate a median target price of $8.78, showing growth from the present price of $1.04, which can serve as yet another indication of whether HARP is worth investing in or should be passed over.
How Do You Analyze Harpoon Therapeutics Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 7.66%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 71.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in HARP shares?
The recent increase in stakes in HARP appears to be a result of several institutional investors and hedge funds increasing their positions. Franklin Advisers, Inc.’s position in HARP has decreased by -20.13% in the first quarter. The company now owns 1,324,504 shares of the stock, with a value of $2.2 million, following the sale of -333,749 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in HARP during the first quarter, downing its stake by -4.29%.
HARP shares are owned by institutional investors to the tune of 71.10% at present.