Leap Therapeutics (NASDAQ:LPTX) Downgraded to Neutral Rating by HC Wainwright

HC Wainwright cut shares of Leap Therapeutics (NASDAQ:LPTX) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, MarketBeat.com reports.

Separately, Robert W. Baird cut shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $1.25 in a research report on Wednesday.

Leap Therapeutics Trading Down 12.1 %

NASDAQ LPTX opened at $0.57 on Wednesday. The stock has a fifty day simple moving average of $2.82 and a 200-day simple moving average of $2.75. The stock has a market cap of $21.90 million, a PE ratio of -0.30 and a beta of 0.17. Leap Therapeutics has a twelve month low of $0.55 and a twelve month high of $4.79.

Hedge Funds Weigh In On Leap Therapeutics

Institutional investors have recently modified their holdings of the business. Valence8 US LP acquired a new stake in shares of Leap Therapeutics in the third quarter valued at $48,000. HighTower Advisors LLC acquired a new stake in Leap Therapeutics in the 3rd quarter valued at about $65,000. HB Wealth Management LLC boosted its stake in shares of Leap Therapeutics by 103.2% in the 4th quarter. HB Wealth Management LLC now owns 51,500 shares of the company’s stock valued at $150,000 after buying an additional 26,150 shares during the period. Marshall Wace LLP grew 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 buying an additional 58,094 shares in the last quarter. Finally, Exome Asset Management LLC purchased a new stake in shares of Leap Therapeutics during the third quarter worth approximately $264,000. Institutional investors and hedge funds own 30.46% of the company’s stock.

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.