Leap Therapeutics, Inc. (NASDAQ:LPTX) Sees Large Decline in Short Interest

Leap Therapeutics, Inc. (NASDAQ:LPTX) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,050,000 shares, a decrease of 7.1% from the July 15th total of 1,130,000 shares. Based on an average daily trading volume, of 145,200 shares, the short-interest ratio is currently 7.2 days. Currently, 3.5% of the company’s stock are short sold.

Hedge Funds Weigh In On Leap Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in Leap Therapeutics by 268.2% during 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. Simplify Asset Management Inc. increased its position in shares of Leap Therapeutics by 67.9% during the second quarter. Simplify Asset Management Inc. now owns 631,269 shares of the company’s stock worth $1,237,000 after purchasing an additional 255,293 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its holdings in shares of Leap Therapeutics by 22.2% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company’s stock valued at $558,000 after purchasing an additional 51,838 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Leap Therapeutics by 349.3% in the 1st quarter. Acadian Asset Management LLC now owns 282,413 shares of the company’s stock valued at $750,000 after purchasing an additional 219,563 shares during the period. Finally, Vanguard Group Inc. grew its stake in Leap Therapeutics by 111.7% during the 1st quarter. Vanguard Group Inc. now owns 867,708 shares of the company’s stock worth $2,308,000 after buying an additional 457,904 shares during the last quarter. 30.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LPTX has been the subject of several research reports. Rodman & Renshaw started coverage on shares of Leap Therapeutics in a research note on Friday, June 28th. They issued a “buy” rating and a $8.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $5.50 price target on shares of Leap Therapeutics in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $10.40.

Leap Therapeutics Price Performance

Shares of NASDAQ LPTX opened at $2.92 on Wednesday. The business has a 50-day moving average of $2.12 and a two-hundred day moving average of $2.55. The company has a market capitalization of $74.75 million, a price-to-earnings ratio of -1.22 and a beta of 0.31. Leap Therapeutics has a 1 year low of $1.24 and a 1 year high of $5.00.

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.