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

Leap Therapeutics, Inc. (NASDAQ:LPTX) was the target of a large drop in short interest during 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. Currently, 7.5% of the shares of the company are short sold. Based on an average trading volume of 768,400 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of Leap Therapeutics

Hedge funds have recently bought and sold shares of the stock. Valence8 US LP purchased a new stake in Leap Therapeutics in the 3rd quarter worth $48,000. Prosperity Wealth Management Inc. purchased a new stake in Leap Therapeutics in the 4th quarter worth $63,000. HighTower Advisors LLC purchased a new stake in Leap Therapeutics in the 3rd quarter worth $65,000. Jane Street Group LLC purchased a new stake in Leap Therapeutics in the 4th quarter worth $107,000. Finally, Dauntless Investment Group LLC purchased a new stake in Leap Therapeutics in the 4th quarter worth $144,000. Hedge funds and other institutional investors own 30.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on LPTX shares. Baird R W cut shares of Leap Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 29th. HC Wainwright cut shares of Leap Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird cut shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $1.25 in a research note on Wednesday, January 29th.

Leap Therapeutics Stock Down 0.0 %

Shares of LPTX stock opened at $0.46 on Friday. The stock has a market cap of $17.75 million, a P/E ratio of -0.24 and a beta of 0.15. Leap Therapeutics has a 52 week low of $0.45 and a 52 week high of $4.79. The company’s fifty day simple moving average is $1.75 and its two-hundred day simple moving average is $2.50.

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.