Leap Therapeutics (NASDAQ:LPTX) Lowered to “Hold” Rating by Baird R W

Baird R W cut shares of Leap Therapeutics (NASDAQ:LPTX) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the company. HC Wainwright cut Leap Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday. Robert W. Baird downgraded shares of Leap Therapeutics from an “outperform” rating to a “neutral” rating and cut their price target for the company from $9.00 to $1.25 in a report on Wednesday.

Leap Therapeutics Trading Up 7.9 %

Shares of LPTX opened at $0.56 on Wednesday. The stock has a 50 day simple moving average of $2.74 and a 200-day simple moving average of $2.73. The stock has a market cap of $21.46 million, a PE ratio of -0.29 and a beta of 0.17. Leap Therapeutics has a 1 year low of $0.51 and a 1 year high of $4.79.

Hedge Funds Weigh In On Leap Therapeutics

Institutional investors have recently bought and sold shares of the business. Simplify Asset Management Inc. grew its holdings in shares of Leap Therapeutics by 67.4% during the third quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock worth $2,716,000 after purchasing an additional 425,626 shares during the last quarter. Exome Asset Management LLC acquired a new position in Leap Therapeutics during the 3rd quarter worth about $264,000. Marshall Wace LLP grew its holdings in Leap Therapeutics by 268.2% during the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock worth $156,000 after acquiring an additional 58,094 shares during the last quarter. Geode Capital Management LLC increased its position in Leap Therapeutics by 18.0% in the 3rd 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 in the last quarter. Finally, Key Client Fiduciary Advisors LLC raised its stake in shares of Leap Therapeutics by 12.2% in the fourth quarter. Key Client Fiduciary Advisors LLC now owns 361,253 shares of the company’s stock worth $1,039,000 after acquiring an additional 39,330 shares during the last quarter. Institutional investors own 30.46% of the company’s stock.

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.