Jasper Therapeutics  saw its stock leap 112 % after Oppenheimer analyst Jay Olson commenced coverage with a buy-equivalent outperform rating and a $21 price target.

Olson described Jasper as a "emerging leader" in developing innovative tailored conditioning medicines for hematopoietic stem cell transplantation in a research note posted after the market closed on Tuesday.

Company Profile for Jasper Therapeutics, Inc | Business Wire

JSP191, the company's main candidate, is utilised to extract hematopoietic stem cells from bone marrow prior to transplantation.

Olsen thinks Jasper Therapeutics has a good chance of changing what he calls the "decades-old standard" of hematopoietic stem cell transplantation for various disorders, "either as a standalone conditioning agent or as the backbone of the conditioning regimen."

Amgen , a biopharmaceutical company, disclosed a 7.4 % stake in Jasper in early October.