Royal Bank of Canada Reaffirms Outperform Rating for Jasper Therapeutics (NASDAQ:JSPR)

Jasper Therapeutics (NASDAQ:JSPR)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $68.00 price objective on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 213.22% from the stock’s current price.

A number of other analysts also recently issued reports on JSPR. Cantor Fitzgerald reiterated an “overweight” rating on shares of Jasper Therapeutics in a report on Monday, September 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $70.00 target price on shares of Jasper Therapeutics in a report on Tuesday, October 15th. BMO Capital Markets initiated coverage on Jasper Therapeutics in a research note on Friday, December 6th. They set an “outperform” rating and a $63.00 price target for the company. Evercore ISI reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Jasper Therapeutics in a research note on Monday, August 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $65.00 price objective on shares of Jasper Therapeutics in a report on Thursday, October 24th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Jasper Therapeutics currently has an average rating of “Buy” and an average target price of $73.38.

Jasper Therapeutics Price Performance

Shares of JSPR opened at $21.71 on Monday. The firm has a market cap of $325.67 million, a P/E ratio of -4.58 and a beta of 2.18. Jasper Therapeutics has a 1 year low of $5.02 and a 1 year high of $31.01. The company has a 50 day simple moving average of $21.81 and a two-hundred day simple moving average of $20.65.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Samsara BioCapital LLC boosted its stake in shares of Jasper Therapeutics by 11.4% during the 3rd quarter. Samsara BioCapital LLC now owns 584,642 shares of the company’s stock worth $10,997,000 after purchasing an additional 59,642 shares during the period. Braidwell LP purchased a new stake in Jasper Therapeutics in the 3rd quarter worth about $9,091,000. Ally Bridge Group NY LLC lifted its stake in Jasper Therapeutics by 82.7% in the third quarter. Ally Bridge Group NY LLC now owns 399,466 shares of the company’s stock worth $7,514,000 after purchasing an additional 180,852 shares during the last quarter. State Street Corp boosted its position in shares of Jasper Therapeutics by 12.3% during the third quarter. State Street Corp now owns 214,883 shares of the company’s stock valued at $4,042,000 after buying an additional 23,564 shares during the period. Finally, Fernwood Investment Management LLC grew its stake in shares of Jasper Therapeutics by 6.9% during the third quarter. Fernwood Investment Management LLC now owns 52,897 shares of the company’s stock valued at $995,000 after buying an additional 3,427 shares during the last quarter. Institutional investors own 79.85% of the company’s stock.

About Jasper Therapeutics

Jasper Therapeutics, Inc, a clinical-stage biotechnology company, develops therapeutic agents for hematopoietic stem cell transplantation and gene therapies. The company's lead product candidate is briquilimab, which is in clinical development as a novel therapeutic antibody that clears hematopoietic stem cells from bone marrow in patients prior to undergoing allogeneic stem cell therapy or stem cell gene therapy.