Leap Therapeutics (NASDAQ:LPTX) Stock Rating Lowered by HC Wainwright

HC Wainwright downgraded shares of Leap Therapeutics (NASDAQ:LPTX) from a buy rating to a neutral rating in a research note published on Wednesday, Marketbeat Ratings reports. HC Wainwright also issued estimates for Leap Therapeutics’ FY2029 earnings at ($0.29) EPS.

Separately, Robert W. Baird cut shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $1.25 in a research report on Wednesday.

Leap Therapeutics Stock Up 7.9 %

NASDAQ LPTX opened at $0.56 on Wednesday. The stock’s 50-day simple moving average is $2.74 and its two-hundred day simple moving average is $2.73. Leap Therapeutics has a twelve month low of $0.51 and a twelve month high of $4.79. The company has a market capitalization of $21.46 million, a price-to-earnings ratio of -0.29 and a beta of 0.17.

Hedge Funds Weigh In On Leap Therapeutics

Hedge funds have recently made changes to their positions in the business. Simplify Asset Management Inc. lifted its stake in Leap Therapeutics by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock worth $2,716,000 after acquiring an additional 425,626 shares during the period. Exome Asset Management LLC bought a new position in Leap Therapeutics in the 3rd quarter worth $264,000. Marshall Wace LLP lifted its position 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 purchasing an additional 58,094 shares during the period. Geode Capital Management LLC boosted its stake in shares of Leap Therapeutics by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock valued at $847,000 after purchasing an additional 50,194 shares in the last quarter. Finally, Key Client Fiduciary Advisors LLC increased its position in shares of Leap Therapeutics by 12.2% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock valued at $1,039,000 after buying an additional 39,330 shares during the period. 30.46% of the stock is owned by hedge funds and other institutional investors.

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.