Leap Therapeutics (NASDAQ:LPTX) Share Price Passes Below 50 Day Moving Average of $2.58

Leap Therapeutics, Inc. (NASDAQ:LPTX - Get Free Report) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.58 and traded as low as $2.57. Leap Therapeutics shares last traded at $2.70, with a volume of 73,653 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LPTX. HC Wainwright reissued a "buy" rating and set a $5.50 price target on shares of Leap Therapeutics in a report on Tuesday, August 13th. Rodman & Renshaw assumed coverage on Leap Therapeutics in a report on Friday, June 28th. They issued a "buy" rating and a $8.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Leap Therapeutics presently has a consensus rating of "Buy" and an average price target of $10.40.

Leap Therapeutics Stock Performance

The firm's 50-day simple moving average is $2.58 and its two-hundred day simple moving average is $2.52. The stock has a market cap of $69.12 million, a price-to-earnings ratio of -1.13 and a beta of 0.27.

Leap Therapeutics (NASDAQ:LPTX - Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.10). Equities research analysts expect that Leap Therapeutics, Inc. will post -1.84 earnings per share for the current fiscal year.

Institutional Trading of Leap Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of 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 period. Simplify Asset Management Inc. grew its holdings in Leap Therapeutics by 67.9% during the 2nd quarter. Simplify Asset Management Inc. now owns 631,269 shares of the company's stock worth $1,237,000 after acquiring an additional 255,293 shares during the period. Key Client Fiduciary Advisors LLC grew its holdings in Leap Therapeutics by 22.2% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company's stock worth $558,000 after acquiring an additional 51,838 shares during the period. Acadian Asset Management LLC grew its holdings in Leap Therapeutics by 349.3% during the 1st quarter. Acadian Asset Management LLC now owns 282,413 shares of the company's stock worth $750,000 after acquiring an additional 219,563 shares during the period. Finally, Marshall Wace LLP lifted its stake 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 valued at $156,000 after purchasing an additional 58,094 shares during the period. 30.46% of the stock is owned by institutional investors.

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.