Leap Therapeutics (NASDAQ:LPTX) Rating Lowered to Neutral at HC Wainwright

HC Wainwright cut shares of Leap Therapeutics (NASDAQ:LPTX) from a buy rating to a neutral rating in a report issued on Wednesday, Marketbeat reports.

Separately, Robert W. Baird cut Leap Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $9.00 to $1.25 in a research note on Wednesday.

Leap Therapeutics Stock Performance

Shares of LPTX stock opened at $0.57 on Wednesday. Leap Therapeutics has a 1 year low of $0.55 and a 1 year high of $4.79. The firm has a market cap of $21.90 million, a price-to-earnings ratio of -0.30 and a beta of 0.17. The stock’s 50-day moving average is $2.82 and its two-hundred day moving average is $2.75.

Institutional Trading of Leap Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Simplify Asset Management Inc. raised its stake in shares of Leap Therapeutics by 67.4% during the third quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock worth $2,716,000 after purchasing an additional 425,626 shares during the last quarter. Key Client Fiduciary Advisors LLC raised its position in Leap Therapeutics by 12.2% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock worth $1,039,000 after buying an additional 39,330 shares during the last quarter. Geode Capital Management LLC raised its position in Leap Therapeutics by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock worth $847,000 after buying an additional 50,194 shares during the last quarter. Exome Asset Management LLC acquired a new stake in shares of Leap Therapeutics in the 3rd quarter worth $264,000. Finally, Marshall Wace LLP boosted its holdings in shares of Leap Therapeutics by 268.2% in the second quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after acquiring an additional 58,094 shares in the last quarter. 30.46% of the stock is owned by institutional investors and hedge funds.

Leap Therapeutics Company Profile

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.