Morgan Stanley discloses 7% Jasper Therapeutics (JSPR) ownership position

Rhea-AI Filing Summary

Morgan Stanley filed a Schedule 13G reporting a significant ownership position in Jasper Therapeutics, Inc. voting common stock. Morgan Stanley reports beneficial ownership of 1,969,785 shares, representing 7.0% of the class, with shared voting and shared dispositive power over these shares.

Affiliated entity Morgan Stanley Capital Services LLC reports beneficial ownership of 1,903,420 shares, or 6.8% of the class, also with shared voting and dispositive power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Jasper Therapeutics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Jasper Therapeutics, Inc.

(Name of Issuer)

Voting Common Stock

(Title of Class of Securities)

471871202

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 471871202

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,969,585.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,969,785.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,969,785.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.0 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 471871202

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,903,420.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,903,420.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,903,420.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.8 %

12

Type of Reporting Person (See Instructions)

BD, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Jasper Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 2200 BRIDGE PKWY SUITE #102, REDWOOD CITY, CA, 94065
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Voting Common Stock
(e)	CUSIP No.: 471871202
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 7.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	02/11/2026

Morgan Stanley Capital Services LLC

Signature:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	02/11/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

What does Morgan Stanley report in its Schedule 13G for JSPR?

Morgan Stanley reports a beneficial ownership stake in Jasper Therapeutics voting common stock. It discloses holdings of 1,969,785 shares, representing 7.0% of the class, with shared voting and dispositive power, held in the ordinary course of business without a control-seeking purpose.

How many Jasper Therapeutics (JSPR) shares does Morgan Stanley own?

Morgan Stanley reports beneficial ownership of 1,969,785 Jasper Therapeutics voting common shares. This stake represents 7.0% of the outstanding class, with no sole voting or dispositive power, only shared authority over voting and disposition of these shares, as disclosed in the Schedule 13G filing.

What percentage of Jasper Therapeutics does Morgan Stanley Capital Services LLC own?

Morgan Stanley Capital Services LLC reports beneficial ownership of 1,903,420 Jasper Therapeutics shares, representing 6.8% of the voting common stock class. The filing shows zero sole voting or dispositive power and full shared voting and dispositive power over this position, consistent with Schedule 13G institutional reporting.

What is the event date that triggered this Schedule 13G for JSPR?

The Schedule 13G lists December 31, 2025 as the Date of Event Which Requires Filing. This means the ownership levels described—such as Morgan Stanley’s 7.0% beneficial stake—were measured as of that date for reporting under Section 13(d) of the Exchange Act.

Is Morgan Stanley seeking to influence control of Jasper Therapeutics?

The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Jasper Therapeutics, nor in connection with any transaction having that control-related purpose or effect, aside from limited nomination-related activities.

Who signed the Jasper Therapeutics Schedule 13G on behalf of Morgan Stanley?

The filing is signed by Chris O'Hara as Authorized Signatory, Morgan Stanley and separately as Authorized Signatory, Morgan Stanley Capital Services LLC. Each signature is dated February 11, 2026, certifying the accuracy and completeness of the ownership information provided.