Leap Therapeutics (NASDAQ:LPTX) Trading 4% Higher

Leap Therapeutics, Inc. (NASDAQ:LPTX)’s stock price shot up 4% during mid-day trading on Friday . The company traded as high as $3.50 and last traded at $3.24. 565,216 shares traded hands during trading, an increase of 72% from the average session volume of 328,157 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LPTX. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Leap Therapeutics in a research report on Tuesday, March 19th. Robert W. Baird cut their price objective on Leap Therapeutics from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th.

Leap Therapeutics Stock Performance

The business has a 50-day moving average of $2.80 and a 200-day moving average of $2.60. The stock has a market capitalization of $82.94 million, a price-to-earnings ratio of -0.64 and a beta of 0.57.

Leap Therapeutics (NASDAQ:LPTX) last released its earnings results on Monday, March 18th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.10. Equities analysts predict that Leap Therapeutics, Inc. will post -2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Leap Therapeutics

Several institutional investors have recently bought and sold shares of LPTX. Private Advisor Group LLC grew its position in Leap Therapeutics by 104.5% in the 1st quarter. Private Advisor Group LLC now owns 22,500 shares of the company’s stock valued at $39,000 after acquiring an additional 11,500 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Leap Therapeutics in the 1st quarter valued at about $26,000. BlackRock Inc. grew its position in Leap Therapeutics by 1.2% in the 1st quarter. BlackRock Inc. now owns 1,198,188 shares of the company’s stock valued at $2,098,000 after acquiring an additional 14,079 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Leap Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 3,256,331 shares of the company’s stock valued at $5,699,000 after buying an additional 137,159 shares during the period. Finally, Silverarc Capital Management LLC boosted its stake in shares of Leap Therapeutics by 1.8% in the 1st quarter. Silverarc Capital Management LLC now owns 1,032,163 shares of the company’s stock valued at $1,806,000 after buying an additional 18,499 shares during the period. 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 I clinical trial, as well as two preclinical antibody programs, FL-302 and FL-501.