Hookipa Pharma (NASDAQ:HOOK) Shares Down 4.8% – Time to Sell?

Shares of Hookipa Pharma Inc (NASDAQ:HOOK) dropped 4.8% during trading on Wednesday . The stock traded as low as $1.78 and last traded at $1.79. Approximately 47,510 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 173,485 shares. The stock had previously closed at $1.88.

Wall Street Analysts Forecast Growth

HOOK has been the subject of several recent research reports. JMP Securities decreased their price target on shares of Hookipa Pharma from $24.00 to $7.00 and set a “market outperform” rating for the company in a research report on Thursday, November 21st. Royal Bank of Canada lowered shares of Hookipa Pharma from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $48.00 to $2.00 in a report on Friday, December 20th. Finally, HC Wainwright restated a “neutral” rating on shares of Hookipa Pharma in a report on Friday, January 10th.

Hookipa Pharma Trading Down 4.8 %

The stock’s fifty day moving average price is $1.95 and its two-hundred day moving average price is $3.30. The firm has a market capitalization of $21.59 million, a price-to-earnings ratio of -0.48 and a beta of 0.72.

Institutional Investors Weigh In On Hookipa Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in Hookipa Pharma during the 4th quarter worth $31,000. Squarepoint Ops LLC acquired a new stake in Hookipa Pharma during the 4th quarter worth $104,000. Ikarian Capital LLC acquired a new stake in Hookipa Pharma during the 3rd quarter worth $228,000. Finally, Gilead Sciences Inc. acquired a new stake in Hookipa Pharma during the 4th quarter worth $3,771,000. 63.88% of the stock is currently owned by institutional investors and hedge funds.

About Hookipa Pharma

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.