Cypherpunk Technologies (NASDAQ:CYPH) Upgraded by Wall Street Zen to Hold Rating

Cypherpunk Technologies (NASDAQ:CYPH) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts have also recently issued reports about the stock. Cantor Fitzgerald started coverage on shares of Cypherpunk Technologies in a research note on Wednesday. They issued an “overweight” rating and a $0.90 price objective for the company. Weiss Ratings lowered shares of Cypherpunk Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $0.90.

Cypherpunk Technologies Stock Performance

CYPH opened at $0.67 on Friday. The business has a 50 day moving average price of $0.91 and a 200 day moving average price of $0.87. Cypherpunk Technologies has a twelve month low of $0.23 and a twelve month high of $3.70. The firm has a market cap of $70.90 million, a P/E ratio of -33.28 and a beta of 0.07.

Cypherpunk Technologies (NASDAQ:CYPH) last announced its earnings results on Thursday, May 14th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.42).

Institutional Trading of Cypherpunk Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its holdings in Cypherpunk Technologies by 470.4% in the 1st quarter. Acadian Asset Management LLC now owns 1,280,531 shares of the company’s stock valued at $389,000 after buying an additional 1,056,047 shares during the last quarter. Key Client Fiduciary Advisors LLC acquired a new position in shares of Cypherpunk Technologies during the fourth quarter worth approximately $98,000. Sequoia Financial Advisors LLC acquired a new position in shares of Cypherpunk Technologies during the fourth quarter worth approximately $56,000. HighTower Advisors LLC bought a new stake in shares of Cypherpunk Technologies in the fourth quarter valued at approximately $59,000. Finally, Simplify Asset Management Inc. acquired a new stake in shares of Cypherpunk Technologies in the fourth quarter worth $2,172,000. Institutional investors own 30.46% of the company’s stock.

About Cypherpunk Technologies

Cypherpunk Technologies Inc, previously known as Leap Therapeutics, Inc, is a company developing novel therapies for patients with cancer and implementing a digital asset treasury strategy focused on Zcash. The company’s research platform centers on modulating the tumor microenvironment to enhance anti-tumor immune responses. Cypherpunk’s proprietary pipeline includes DKN-01, a monoclonal antibody designed to neutralize Dickkopf-1 (DKK1), a protein implicated in tumor growth and immune evasion.

DKN-01 is being evaluated both as a monotherapy and in combination with checkpoint inhibitors such as pembrolizumab across multiple solid tumor indications, including gastroesophageal, pancreatic and other advanced malignancies.