Leap Therapeutics, Inc. (NASDAQ:LPTX) Sees Significant Decrease in Short Interest

Leap Therapeutics, Inc. (NASDAQ:LPTX) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,060,000 shares, a decrease of 14.5% from the June 15th total of 1,240,000 shares. Based on an average daily trading volume, of 290,800 shares, the short-interest ratio is currently 3.6 days. Currently, 3.6% of the company’s stock are short sold.

Institutional Investors Weigh In On Leap Therapeutics

Several large investors have recently made changes to their positions in LPTX. Key Client Fiduciary Advisors LLC increased its stake in shares of Leap Therapeutics by 8.6% in the first quarter. Key Client Fiduciary Advisors LLC now owns 233,018 shares of the company’s stock valued at $620,000 after purchasing an additional 18,408 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 219,563 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Leap Therapeutics by 111.7% in the first 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 in the last quarter. Institutional investors and hedge funds own 30.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of Leap Therapeutics from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th. HC Wainwright cut their target price on shares of Leap Therapeutics from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. Finally, Rodman & Renshaw assumed coverage on shares of Leap Therapeutics in a research note on Friday, June 28th. They issued a “buy” rating and a $8.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $10.40.

Leap Therapeutics Trading Down 7.2 %

LPTX traded down $0.17 on Monday, hitting $2.18. 114,196 shares of the company’s stock were exchanged, compared to its average volume of 257,923. The firm has a market cap of $55.81 million, a PE ratio of -0.98 and a beta of 0.32. Leap Therapeutics has a twelve month low of $1.24 and a twelve month high of $5.00. The stock has a fifty day moving average of $2.28 and a two-hundred day moving average of $2.78.

Leap Therapeutics (NASDAQ:LPTX) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.06. On average, analysts predict that Leap Therapeutics will post -1.66 EPS for the current year.

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.