Leap Therapeutics (NASDAQ:LPTX) Rating Lowered to "Neutral" at HC Wainwright

Leap Therapeutics (NASDAQ:LPTX - Get Free Report) was downgraded by HC Wainwright from a "buy" rating to a "neutral" rating in a report released on Wednesday, MarketBeat Ratings reports. HC Wainwright also issued estimates for Leap Therapeutics' FY2029 earnings at ($0.29) EPS.

Separately, Robert W. Baird lowered shares of Leap Therapeutics from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $9.00 to $1.25 in a report on Wednesday.

Leap Therapeutics Stock Performance

NASDAQ:LPTX traded up $0.04 during mid-day trading on Wednesday, reaching $0.56. The stock had a trading volume of 1,101,612 shares, compared to its average volume of 1,245,543. Leap Therapeutics has a one year low of $0.51 and a one year high of $4.79. The firm has a 50 day moving average price of $2.74 and a two-hundred day moving average price of $2.73. The stock has a market capitalization of $21.46 million, a P/E ratio of -0.29 and a beta of 0.17.

Hedge Funds Weigh In On Leap Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Valence8 US LP purchased a new stake in shares of Leap Therapeutics during the third quarter valued at approximately $48,000. HighTower Advisors LLC purchased a new stake in Leap Therapeutics during the 3rd quarter valued at $65,000. HB Wealth Management LLC grew its holdings in Leap Therapeutics by 103.2% in the 4th quarter. HB Wealth Management LLC now owns 51,500 shares of the company's stock worth $150,000 after acquiring an additional 26,150 shares during the last quarter. Key Client Fiduciary Advisors LLC increased its position in shares of Leap Therapeutics by 13.0% in the third quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company's stock valued at $827,000 after acquiring an additional 37,067 shares during the period. Finally, Geode Capital Management LLC raised 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 valued at $847,000 after acquiring an additional 50,194 shares during the last quarter. 30.46% of the stock is currently owned by 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.