Cypherpunk Technologies (NASDAQ:CYPH) Trading 10.7% Higher – Here’s What Happened

Cypherpunk Technologies (NASDAQ:CYPH) shares traded up 10.7% during mid-day trading on Wednesday . The stock traded as high as $0.8994 and last traded at $0.8073. 3,104,766 shares traded hands during trading, an increase of 61% from the average session volume of 1,927,646 shares. The stock had previously closed at $0.7292.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cypherpunk Technologies in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Cypherpunk Technologies Price Performance

The company has a market capitalization of $72.64 million, a PE ratio of 11.53 and a beta of -0.22. The company has a 50 day moving average of $0.68 and a two-hundred day moving average of $0.91.

Institutional Investors Weigh In On Cypherpunk Technologies

Institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new stake in shares of Cypherpunk Technologies in the fourth quarter worth $56,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Cypherpunk Technologies in the fourth quarter worth $121,000. Millennium Management LLC purchased a new stake in shares of Cypherpunk Technologies in the fourth quarter worth $37,000. LPL Financial LLC purchased a new stake in shares of Cypherpunk Technologies in the fourth quarter worth $38,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Cypherpunk Technologies in the fourth quarter worth $59,000. 30.46% of the stock is owned by hedge funds and other institutional investors.

About Cypherpunk Technologies

Cypherpunk Technologies Inc, previously known as Leap Therapeutics, Inc, is a company developing novel therapies for patients with cancer and implementing a digital asset treasury strategy focused on Zcash. The company’s research platform centers on modulating the tumor microenvironment to enhance anti-tumor immune responses. Cypherpunk’s proprietary pipeline includes DKN-01, a monoclonal antibody designed to neutralize Dickkopf-1 (DKK1), a protein implicated in tumor growth and immune evasion.

DKN-01 is being evaluated both as a monotherapy and in combination with checkpoint inhibitors such as pembrolizumab across multiple solid tumor indications, including gastroesophageal, pancreatic and other advanced malignancies.