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

Leap Therapeutics (NASDAQ:LPTX) was downgraded by investment analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

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

Leap Therapeutics Stock Down 71.1 %

Shares of LPTX stock opened at $0.65 on Wednesday. The company’s 50 day moving average is $2.86 and its 200 day moving average is $2.77. The firm has a market cap of $24.91 million, a price-to-earnings 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Valence8 US LP acquired a new position in Leap Therapeutics in the 3rd quarter worth approximately $48,000. HighTower Advisors LLC purchased a new stake in shares of Leap Therapeutics in the 3rd quarter valued at $65,000. HB Wealth Management LLC lifted its position in Leap Therapeutics by 103.2% during the fourth quarter. HB Wealth Management LLC now owns 51,500 shares of the company’s stock valued at $150,000 after purchasing an additional 26,150 shares during the period. Marshall Wace LLP boosted its holdings in Leap Therapeutics by 268.2% in the second quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after purchasing an additional 58,094 shares during the last quarter. Finally, Exome Asset Management LLC acquired a new stake in Leap Therapeutics during the 3rd quarter worth about $264,000. 30.46% of the stock is owned by institutional investors and hedge funds.

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.