HC Wainwright Reaffirms Buy Rating for Leap Therapeutics (NASDAQ:LPTX)

HC Wainwright reiterated their buy rating on shares of Leap Therapeutics (NASDAQ:LPTX) in a research note released on Friday morning,Benzinga reports. The firm currently has a $5.50 price objective on the stock.

Leap Therapeutics Price Performance

Shares of LPTX stock opened at $2.78 on Friday. The business has a 50-day moving average of $2.94 and a 200 day moving average of $2.57. Leap Therapeutics has a 1-year low of $1.68 and a 1-year high of $5.00. The stock has a market capitalization of $71.17 million, a PE ratio of -1.44 and a beta of 0.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LPTX. Valence8 US LP bought a new position in Leap Therapeutics in the third quarter worth about $48,000. HighTower Advisors LLC bought a new position in Leap Therapeutics in the third quarter worth $65,000. Marshall Wace LLP boosted its holdings in shares of Leap Therapeutics by 268.2% during the 2nd quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock valued at $156,000 after buying an additional 58,094 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Leap Therapeutics by 349.3% in the 1st quarter. Acadian Asset Management LLC now owns 282,413 shares of the company’s stock worth $750,000 after buying an additional 219,563 shares during the period. Finally, Key Client Fiduciary Advisors LLC increased its stake in shares of Leap Therapeutics by 22.2% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 284,856 shares of the company’s stock worth $558,000 after acquiring an additional 51,838 shares in the last quarter. Institutional investors own 30.46% of the company’s stock.

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.