Royal Bank Of Canada Lowers Jasper Therapeutics (NASDAQ:JSPR) Price Target to $3.00

Jasper Therapeutics (NASDAQ:JSPR) had its target price dropped by equities researchers at Royal Bank Of Canada from $4.00 to $3.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 257.57% from the company’s current price.

Several other brokerages have also weighed in on JSPR. TD Cowen lowered Jasper Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group initiated coverage on shares of Jasper Therapeutics in a research report on Monday, March 23rd. They set a “neutral” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jasper Therapeutics in a research note on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.14.

Jasper Therapeutics Stock Performance

Shares of Jasper Therapeutics stock traded down $0.12 during trading on Friday, hitting $0.84. 92,244 shares of the company’s stock were exchanged, compared to its average volume of 547,916. Jasper Therapeutics has a 52-week low of $0.62 and a 52-week high of $7.19. The stock has a market capitalization of $23.49 million, a price-to-earnings ratio of -0.18 and a beta of 3.07. The business has a 50-day simple moving average of $1.02 and a 200-day simple moving average of $1.44.

Jasper Therapeutics (NASDAQ:JSPR) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.47. On average, equities analysts anticipate that Jasper Therapeutics will post -2.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jasper Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in JSPR. Goldman Sachs Group Inc. lifted its stake in Jasper Therapeutics by 11.2% during the first quarter. Goldman Sachs Group Inc. now owns 233,758 shares of the company’s stock worth $1,005,000 after purchasing an additional 23,453 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Jasper Therapeutics in the first quarter valued at approximately $46,000. JPMorgan Chase & Co. raised its holdings in Jasper Therapeutics by 1,074.7% during the second quarter. JPMorgan Chase & Co. now owns 65,088 shares of the company’s stock worth $361,000 after purchasing an additional 59,547 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Jasper Therapeutics during the 2nd quarter worth approximately $152,000. Finally, Marshall Wace LLP purchased a new stake in shares of Jasper Therapeutics during the 2nd quarter worth approximately $281,000. Institutional investors and hedge funds own 79.85% of the company’s stock.

About Jasper Therapeutics

Jasper Therapeutics, Inc (NASDAQ: JSPR) is a clinical-stage biopharmaceutical company focused on translating advances in immunobiology into therapies for serious and rare diseases with unmet medical needs. The company’s research and development efforts center on engineered biologics and cell-based approaches designed to address complications in hematologic conditions and improve outcomes in transplant medicine.

Central to Jasper’s pipeline is JSP191, a monoclonal antibody targeting the CD117 receptor, which is being evaluated to enhance donor hematopoietic stem cell engraftment in patients undergoing stem cell transplantation.