Benzinga | Oct 13, 2021 01:38PM EDT

Why Jasper Therapeutics Stock Is Soaring Today

Jasper Therapeutics Inc (NASDAQ:JSPR) is surging higher Wednesday after Oppenheimer analyst Jay Olson initiated coverage on the stock with an Outperform rating and announced a price target of $21.

The Oppenheimer analyst cited the potential of Jasper Therapeutics' conditioning agents for hematopoietic stem cell transplantation.

Jasper Therapeutics went public via special purpose acquisition company Amplitude Healthcare Acquisition Corporation at the end of September.

Jasper Therapeutics is a clinical-stage biotechnology company dedicated to enabling cures through hematopoietic stem cell therapy. It's focused on the development and commercialization of safer and more effective conditioning agents and stem cell engineering to allow for expanded use of stem cell transplantation and ex vivo gene therapy.

JSPR Price Action: Jasper Therapeutics is making new 52-week highs during Wednesday's trading session.

The stock was up about 111% at $15.27 per share at time of publication.