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

Leap Therapeutics, Inc. (NASDAQ:LPTX - Get Free Report) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 723,500 shares, a decrease of 19.5% from the September 30th total of 899,100 shares. Currently, 2.4% of the company's shares are sold short. Based on an average daily volume of 149,100 shares, the days-to-cover ratio is presently 4.9 days.

Institutional Investors Weigh In On Leap Therapeutics

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Leap Therapeutics by 111.7% in the first quarter. Vanguard Group Inc. now owns 867,708 shares of the company's stock valued at $2,308,000 after buying an additional 457,904 shares in the last quarter. Simplify Asset Management Inc. grew its position in Leap Therapeutics by 67.9% in the second quarter. Simplify Asset Management Inc. now owns 631,269 shares of the company's stock valued at $1,237,000 after acquiring an additional 255,293 shares in the last quarter. Key Client Fiduciary Advisors LLC raised its stake in shares of Leap Therapeutics by 13.0% during the third quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company's stock valued at $827,000 after purchasing an additional 37,067 shares during the period. Acadian Asset Management LLC raised its stake in shares of Leap Therapeutics by 349.3% during the first 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, Marshall Wace LLP lifted its position in shares of Leap Therapeutics by 268.2% during the second quarter. Marshall Wace LLP now owns 79,758 shares of the company's stock worth $156,000 after purchasing an additional 58,094 shares in the last quarter. Institutional investors and hedge funds own 30.46% of the company's stock.

Leap Therapeutics Stock Performance

Leap Therapeutics stock traded up $0.31 during midday trading on Friday, reaching $3.60. The stock had a trading volume of 1,511,297 shares, compared to its average volume of 226,372. The stock's 50-day simple moving average is $2.73 and its 200 day simple moving average is $2.53. Leap Therapeutics has a twelve month low of $1.31 and a twelve month high of $5.00. The stock has a market capitalization of $92.16 million, a PE ratio of -1.80 and a beta of 0.27.

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

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a "buy" rating and issued a $5.50 price target on shares of Leap Therapeutics in a research note on Tuesday, August 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Leap Therapeutics presently has an average rating of "Buy" and an average target price of $10.40.

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.