Simplify Asset Management Inc. Buys 255,293 Shares of Leap Therapeutics, Inc. (NASDAQ:LPTX)

Simplify Asset Management Inc. increased its position in shares of Leap Therapeutics, Inc. (NASDAQ:LPTX) by 67.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 631,269 shares of the company’s stock after purchasing an additional 255,293 shares during the quarter. Simplify Asset Management Inc. owned approximately 2.47% of Leap Therapeutics worth $1,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Key Client Fiduciary Advisors LLC boosted its stake in Leap Therapeutics by 22.2% in the second quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company’s stock valued at $558,000 after acquiring an additional 51,838 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Leap Therapeutics by 349.3% in the first quarter. Acadian Asset Management LLC now owns 282,413 shares of the company’s stock worth $750,000 after purchasing an additional 219,563 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Leap Therapeutics by 111.7% in the 1st quarter. Vanguard Group Inc. now owns 867,708 shares of the company’s stock valued at $2,308,000 after buying an additional 457,904 shares in the last quarter. 30.46% of the stock is currently owned by institutional investors.

Leap Therapeutics Price Performance

Shares of NASDAQ:LPTX opened at $2.84 on Friday. Leap Therapeutics, Inc. has a one year low of $1.24 and a one year high of $5.00. The stock has a market capitalization of $72.70 million, a PE ratio of -1.19 and a beta of 0.27. The company’s 50-day moving average price is $2.52 and its two-hundred day moving average price is $2.51.

Leap Therapeutics (NASDAQ:LPTX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.10). On average, analysts anticipate that Leap Therapeutics, Inc. will post -1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LPTX has been the subject of several research analyst reports. Rodman & Renshaw initiated coverage on Leap Therapeutics in a research report on Friday, June 28th. They issued a “buy” rating and a $8.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $5.50 price objective on shares of Leap Therapeutics in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $10.40.

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.