Hookipa Pharma (NASDAQ:HOOK) Cut to Sector Perform at Royal Bank of Canada

Royal Bank of Canada cut shares of Hookipa Pharma (NASDAQ:HOOK) from an outperform rating to a sector perform rating in a research report sent to investors on Friday, Marketbeat reports. The brokerage currently has $2.00 price objective on the stock, down from their previous price objective of $48.00.

Separately, JMP Securities decreased their price objective 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 Down 5.6 %

NASDAQ:HOOK opened at $2.02 on Friday. The firm has a market cap of $24.35 million, a PE ratio of -0.54 and a beta of 0.71. Hookipa Pharma has a 12 month low of $1.88 and a 12 month high of $11.30. The company’s 50-day moving average price is $3.06 and its two-hundred day moving average price is $4.64.

Institutional Investors Weigh In On Hookipa Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in HOOK. Ikarian Capital LLC bought a new position in Hookipa Pharma in the third quarter valued at about $228,000. Renaissance Technologies LLC lifted its position in Hookipa Pharma by 38.4% during the 2nd quarter. Renaissance Technologies LLC now owns 302,246 shares of the company’s stock valued at $179,000 after purchasing an additional 83,800 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Hookipa Pharma by 12.3% in the 2nd quarter. Acadian Asset Management LLC now owns 991,106 shares of the company’s stock valued at $586,000 after purchasing an additional 108,844 shares during the last quarter. Institutional investors own 63.88% of the company’s stock.

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.