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

Leap Therapeutics (NASDAQ:LPTX) was downgraded by equities researchers at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import 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 note on Wednesday.

Leap Therapeutics Stock Down 71.1 %

NASDAQ:LPTX opened at $0.65 on Wednesday. The stock has a market capitalization of $24.91 million, a PE ratio of -0.34 and a beta of 0.17. Leap Therapeutics has a 52 week low of $0.62 and a 52 week high of $4.79. The stock’s 50-day moving average price is $2.86 and its 200-day moving average price is $2.77.

Institutional Trading of Leap Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Valence8 US LP purchased a new position in shares of Leap Therapeutics during the 3rd quarter worth approximately $48,000. HighTower Advisors LLC purchased a new stake in Leap Therapeutics during the 3rd quarter worth about $65,000. HB Wealth Management LLC increased its stake in shares of Leap Therapeutics by 103.2% during the fourth quarter. HB Wealth Management LLC now owns 51,500 shares of the company’s stock worth $150,000 after buying an additional 26,150 shares during the period. Key Client Fiduciary Advisors LLC raised its holdings in Leap Therapeutics by 13.0% in the third quarter. Key Client Fiduciary Advisors LLC now owns 321,923 shares of the company’s stock valued at $827,000 after acquiring an additional 37,067 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Leap Therapeutics by 18.0% in the third quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock worth $847,000 after acquiring an additional 50,194 shares during the last quarter. 30.46% of the stock is owned by institutional investors and hedge funds.

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.