Leap Therapeutics (NASDAQ:LPTX) Stock Price Down 1.4% – Time to Sell?

Shares of Leap Therapeutics, Inc. (NASDAQ:LPTX) were down 1.4% during trading on Thursday . The stock traded as low as $0.47 and last traded at $0.48. Approximately 400,455 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,155,238 shares. The stock had previously closed at $0.49.

Wall Street Analysts Forecast Growth

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

Leap Therapeutics Stock Performance

The firm has a market capitalization of $18.40 million, a P/E ratio of -0.25 and a beta of 0.15. The business’s fifty day moving average price is $1.99 and its two-hundred day moving average price is $2.56.

Institutional Trading of Leap Therapeutics

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 50,194 shares in the last quarter. Simplify Asset Management Inc. boosted its holdings in shares of Leap Therapeutics by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock valued at $2,716,000 after buying an additional 425,626 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Leap Therapeutics in the 3rd quarter worth approximately $65,000. HB Wealth Management LLC boosted its stake in Leap Therapeutics by 103.2% in the 4th quarter. HB Wealth Management LLC now owns 51,500 shares of the company’s stock worth $150,000 after purchasing an additional 26,150 shares in the last quarter. Finally, Valence8 US LP acquired a new stake in Leap Therapeutics in the 3rd quarter worth approximately $48,000. 30.46% of the stock is currently 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.