Baird R W Downgrades Leap Therapeutics (NASDAQ:LPTX) to Hold

Leap Therapeutics (NASDAQ:LPTX) was downgraded by stock analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on LPTX. Robert W. Baird cut Leap Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $1.25 in a research note on Wednesday. HC Wainwright lowered shares of Leap Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday.

Leap Therapeutics Price Performance

Shares of LPTX stock opened at $0.52 on Wednesday. The business has a fifty day moving average of $2.78 and a 200 day moving average of $2.74. Leap Therapeutics has a 1 year low of $0.51 and a 1 year high of $4.79. The firm has a market capitalization of $19.90 million, a price-to-earnings ratio of -0.27 and a beta of 0.17.

Hedge Funds Weigh In On Leap Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of LPTX. Geode Capital Management LLC raised its position in Leap Therapeutics by 18.0% during the third quarter. Geode Capital Management LLC now owns 329,291 shares of the company’s stock valued at $847,000 after acquiring an additional 50,194 shares in the last quarter. Simplify Asset Management Inc. increased its holdings in shares of Leap Therapeutics by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,056,895 shares of the company’s stock valued at $2,716,000 after purchasing an additional 425,626 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Leap Therapeutics during the 3rd quarter valued at approximately $65,000. HB Wealth Management LLC lifted its stake in shares of Leap Therapeutics by 103.2% in the 4th 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. Finally, Marshall Wace LLP boosted its holdings in Leap Therapeutics by 268.2% during the second quarter. Marshall Wace LLP now owns 79,758 shares of the company’s stock worth $156,000 after buying an additional 58,094 shares in the last quarter. Institutional investors and hedge funds 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.