HC Wainwright Reiterates “Buy” Rating for Leap Therapeutics (NASDAQ:LPTX)

HC Wainwright reiterated their buy rating on shares of Leap Therapeutics (NASDAQ:LPTX) in a report published on Friday,Benzinga reports. The firm currently has a $5.50 price objective on the stock.

Leap Therapeutics Stock Down 5.2 %

NASDAQ LPTX opened at $2.74 on Friday. The firm has a 50-day moving average price of $2.94 and a two-hundred day moving average price of $2.57. Leap Therapeutics has a 12-month low of $1.34 and a 12-month high of $5.00. The company has a market capitalization of $70.14 million, a P/E ratio of -1.42 and a beta of 0.22.

Institutional Investors Weigh In On Leap Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Leap Therapeutics by 111.7% during the 1st quarter. Vanguard Group Inc. now owns 867,708 shares of the company’s stock valued at $2,308,000 after acquiring an additional 457,904 shares during the period. Acadian Asset Management LLC raised its stake in Leap Therapeutics by 349.3% in 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 in the last quarter. Key Client Fiduciary Advisors LLC lifted its position in Leap Therapeutics by 22.2% during the second quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company’s stock worth $558,000 after purchasing an additional 51,838 shares during the period. Simplify Asset Management Inc. grew its stake in Leap Therapeutics by 67.9% during the second quarter. Simplify Asset Management Inc. now owns 631,269 shares of the company’s stock worth $1,237,000 after buying an additional 255,293 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Leap Therapeutics by 268.2% in the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after buying an additional 58,094 shares during the period. 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.