Leap Therapeutics, Inc. (NASDAQ:LPTX) Short Interest Update

Leap Therapeutics, Inc. (NASDAQ:LPTX) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 2,130,000 shares, a drop of 33.6% from the January 31st total of 3,210,000 shares. Based on an average daily volume of 768,400 shares, the short-interest ratio is currently 2.8 days. Approximately 7.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms have commented on LPTX. HC Wainwright downgraded shares of Leap Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 29th. Robert W. Baird cut Leap Therapeutics from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $9.00 to $1.25 in a research report on Wednesday, January 29th. Finally, Baird R W cut Leap Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th.

Hedge Funds Weigh In On Leap Therapeutics

A number of large investors have recently made changes to their positions in the business. Gilead Sciences Inc. acquired a new position in shares of Leap Therapeutics during the fourth quarter worth $15,293,000. Point72 Asset Management L.P. purchased a new stake in shares of Leap Therapeutics during the fourth quarter worth about $4,025,000. Simplify Asset Management Inc. grew 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 acquiring an additional 425,626 shares during the last quarter. Key Client Fiduciary Advisors LLC grew its stake 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 worth $1,039,000 after acquiring an additional 39,330 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Leap Therapeutics by 18.0% during the third quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock worth $847,000 after acquiring an additional 50,194 shares during the last quarter. 30.46% of the stock is owned by institutional investors and hedge funds.

Leap Therapeutics Price Performance

Shares of LPTX stock traded up $0.01 during mid-day trading on Tuesday, hitting $0.44. 415,710 shares of the stock traded hands, compared to its average volume of 372,942. The stock has a market cap of $16.68 million, a P/E ratio of -0.23 and a beta of 0.35. The stock’s fifty day moving average is $1.70 and its two-hundred day moving average is $2.48. Leap Therapeutics has a 52-week low of $0.40 and a 52-week high of $4.79.

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.