Leap Therapeutics, Inc. (NASDAQ:LPTX) Short Interest Up 50.7% in December

Leap Therapeutics, Inc. (NASDAQ:LPTX) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 2,140,000 shares, a growth of 50.7% from the November 30th total of 1,420,000 shares. Based on an average daily volume of 352,300 shares, the short-interest ratio is currently 6.1 days. Approximately 7.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Valence8 US LP bought a new position in Leap Therapeutics in the third quarter worth $48,000. HighTower Advisors LLC bought a new position in shares of Leap Therapeutics in the 3rd quarter worth about $65,000. Marshall Wace LLP increased its stake in shares of Leap Therapeutics by 268.2% in the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock worth $156,000 after acquiring an additional 58,094 shares in the last quarter. Exome Asset Management LLC purchased a new position in Leap Therapeutics during the 3rd quarter valued at about $264,000. Finally, Key Client Fiduciary Advisors LLC boosted its stake in Leap Therapeutics by 13.0% during the third quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company’s stock worth $827,000 after acquiring an additional 37,067 shares in the last quarter. Hedge funds and other institutional investors own 30.46% of the company’s stock.

Leap Therapeutics Price Performance

LPTX stock traded down $0.03 during trading on Friday, reaching $2.95. The company had a trading volume of 203,628 shares, compared to its average volume of 254,221. The business has a 50 day moving average of $3.13 and a 200 day moving average of $2.64. The company has a market cap of $113.04 million, a P/E ratio of -1.53 and a beta of 0.21. Leap Therapeutics has a 52 week low of $1.68 and a 52 week high of $5.00.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $5.50 price target on shares of Leap Therapeutics in a report on Friday, November 15th.

About Leap Therapeutics

Leap Therapeutics, Inc, a biopharmaceutical company, acquires and develops antibody therapies for the treatment of cancer. Its lead product candidates include DKN-01, a monoclonal antibody that inhibits Dickkopf-related protein 1, which is in multiple ongoing clinical trials for treating esophagogastric and gynecologic cancers; and FL-301, a monoclonal antibody that targets cells that express Claudin18.2 on their cell surface and is in phase II clinical trial, as well as two preclinical antibody programs, FL-302 and FL-501.