Why HOOKIPA Pharma Inc. (HOOK) Stock Crashed Nearly -4.38% Today

HOOKIPA Pharma Inc. (NASDAQ:HOOK) is one of the stocks that are grabbing investor focus today: sinking -4.38% or (-0.61 points) to $13.2 from its previous close of $13.81. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 106947 contracts so far this session. HOOK shares had a relatively better volume day versus average trading capacity of 169.33 thousand shares, but with a 0.33 million float and a -1% run over a week, it’s definitely worth keeping an eye on. HOOK share price has been trading recently between $13.75 and $14.15. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $17.

The shorts are climbing into HOOKIPA Pharma Inc. (HOOK) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in HOOK shares. While short interest still represents only 2.93% of HOOK’s float, the number of shares shorted have risen by 9524. The number of shares shorted advanced to 9524 shares, up from shares during the preceding fortnight. With average daily trading volumes at 220870 shares, days to cover increased to about days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “HOOKIPA Achieves Research Milestone in HBV Collaboration and License Agreement with Gilead” and dated May 08, 2019.

Looking at the current readings for HOOKIPA Pharma Inc., the two-week RSI stands at 0. This figure suggests that HOOK stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current HOOK readings is similarly very revealing as it has a stochastic reading of 54.85% at this stage. This figure means that HOOK share price today is being neutral.

Technical chart claims that HOOKIPA Pharma Inc. (HOOK) would settle between $14.06/share to $14.3/share level. However, if the stock price goes below the $13.66 mark, then the market for HOOKIPA Pharma Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $13.5 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.16. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at RBC Capital Mkts, assumed coverage of HOOK assigning Outperform rating, according to their opinion released on May 13. BofA/Merrill, analysts launched coverage of HOOKIPA Pharma Inc. (NASDAQ:HOOK) stock with a Buy recommendation, according to their flash note issued to investors on May 13.

HOOK equity has an average rating of 1.33, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated HOOKIPA Pharma Inc. (NASDAQ:HOOK) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.