HC Wainwright Has Lowered Expectations for Jasper Therapeutics (NASDAQ:JSPR) Stock Price

Jasper Therapeutics (NASDAQ:JSPR) had its price target decreased by equities researchers at HC Wainwright from $60.00 to $40.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 472.25% from the stock’s previous close. HC Wainwright also issued estimates for Jasper Therapeutics’ FY2029 earnings at ($10.81) EPS.

Several other equities research analysts have also recently weighed in on JSPR. BMO Capital Markets initiated coverage on Jasper Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $63.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $70.00 price target on shares of Jasper Therapeutics in a report on Monday. Finally, Royal Bank of Canada decreased their price target on shares of Jasper Therapeutics from $68.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $67.75.

Jasper Therapeutics Stock Down 60.5 %

Shares of NASDAQ:JSPR opened at $6.99 on Friday. The firm has a market capitalization of $104.86 million, a PE ratio of -1.47 and a beta of 2.18. The company has a 50-day moving average price of $21.66 and a two-hundred day moving average price of $20.37. Jasper Therapeutics has a twelve month low of $6.61 and a twelve month high of $31.01.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Samsara BioCapital LLC grew 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 valued at $10,997,000 after purchasing an additional 59,642 shares during the period. Wellington Management Group LLP bought a new stake in Jasper Therapeutics during the third quarter valued at approximately $447,000. Ally Bridge Group NY LLC raised its position 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 acquiring an additional 180,852 shares during the period. Braidwell LP purchased a new position in shares of Jasper Therapeutics during the 3rd quarter worth $9,091,000. Finally, FMR LLC bought a new stake in shares of Jasper Therapeutics during the 3rd quarter valued at $722,000. 79.85% of the stock is owned by hedge funds and other institutional investors.

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.