Paradigm Operations LP Purchases New Stake in Hyperliquid Strategies Inc $PURR

Key Points

• Paradigm Operations LP acquired 5.71 million shares of Hyperliquid Strategies, valued at approximately $44.9 billion according to the filing, making up 4.4% of Paradigm’s portfolio and representing about 3.95% of PURR’s outstanding shares.
• Institutional ownership of Hyperliquid Strategies stands at 9.45%, with several other funds recently initiating positions in the company.
• PURR opened at $11.56, near its 12-month high of $12.10. Analysts assign the stock a “Moderate Buy” consensus rating with an average price target of $12.72, though ratings include three Buys and one Sell.

Paradigm Operations LP acquired a new position in shares of Hyperliquid Strategies Inc (NASDAQ:PURR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,709,852 shares of the company's stock, valued at approximately $44,936,535,000. Hyperliquid Strategies makes up 4.4% of Paradigm Operations LP's holdings, making the stock its 4th biggest holding. Paradigm Operations LP owned about 3.95% of Hyperliquid Strategies at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in Hyperliquid Strategies in the 2nd quarter valued at $46,000. Shepherd Financial Partners LLC purchased a new stake in shares of Hyperliquid Strategies in the second quarter valued at about $79,000. Boothbay Fund Management LLC purchased a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at about $40,000. Lotus Technology Management LP acquired a new stake in Hyperliquid Strategies during the second quarter worth about $93,000. Finally, XTX Topco Ltd purchased a new position in Hyperliquid Strategies during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 9.45% of the company's stock.

Hyperliquid Strategies Stock Performance

Shares of PURR opened at $11.56 on Thursday. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -1.57 and a beta of 1.71. Hyperliquid Strategies Inc has a 12-month low of $3.01 and a 12-month high of $12.10. The firm has a 50-day moving average of $7.74.

Analysts Set New Price Targets

Several equities analysts have weighed in on PURR shares. Chardan Capital reiterated a "buy" rating and issued a $9.75 target price on shares of Hyperliquid Strategies in a report on Friday, June 12th. Cantor Fitzgerald raised their price target on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Hyperliquid Strategies from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Hyperliquid Strategies presently has an average rating of "Moderate Buy" and an average price target of $12.72.

Hyperliquid Strategies Company Profile

Hyperliquid Strategies Inc is a digital asset treasury company whose primary focus is to maximize shareholder value through accumulating HYPE, the native token of Hyperliquid, a high-performance blockchain custom-built to house all of finance. Hyperliquid Strategies Inc, formerly known as Sonnet BioTherapeutics Holdings Inc, is based in NEW YORK.

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